Acacia Research Reports Second Quarter Financial Results and Announces Payment of Quarterly Dividend Business Wire NEWPORT BEACH, Calif. -- July 18, 2013 Acacia Research Corporation^(1) (Nasdaq: ACTG) today reported results for the three months ended June30, 2013. *Revenues in the second quarter of 2013 were $23,110,000, as compared to $50,484,000 in the comparable prior year quarter. *Revenues for the six months ended June30, 2013 were $99,971,000, as compared to $149,524,000 in the comparable prior year period. *GAAP net loss in the second quarter of 2013 was $12,503,000, or $0.26 per diluted share, as compared to GAAP net income of $6,321,000, or $0.13 per diluted share for the comparable prior year quarter. *Non-GAAP net income in the second quarter of 2013 was $6,481,000, or $0.13 per diluted share, as compared to Non-GAAP net income of $20,953,000, or $0.43 per diluted share for the comparable prior year quarter. See below for information regarding non-GAAP measures. *Trailing twelve-month revenues as of the end of the second quarter of 2013 were $201,174,000, as compared to $233,355,000 as of the end of the prior year quarter. Approval of Quarterly Dividend. In addition, pursuant to the quarterly cash dividend policy announced on April 23, 2013, Acacia Research Corporation announced today that its Board of Directors has approved a second quarterly cash dividend, payable in the amount of $0.125 per share, which will be paid on August 30, 2013, to shareholders of record at the close of business on August 1, 2013. Future cash dividends are expected to be paid on a quarterly basis and will be at the discretion of the Board of Directors. Acacia Research Corporation President, Matt Vella commented, "We invite shareholders and analysts to attend our previously announced 2013 Analyst & Investor Day at the New York Palace Hotel from 8:00 AM until 1:30 PM on Wednesday, July 24th." Consolidated Financial Results - Overview Financial highlights and operating activities during the periods presented included the following: Three Months Ended June 30, Six Months Ended June 30, 2013 2012 2013 2012 Revenues (in $ 23,110 $ 50,484 $ 99,971 $ 149,524 thousands) Net income (loss) (in $ (12,503 ) $ 6,321 $ (7,390 ) $ 56,249 thousands) Non-GAAP net income (in $ 6,481 $ 20,953 $ 29,191 $ 88,708 thousands) Diluted earnings $ (0.26 ) $ 0.13 $ (0.15 ) $ 1.19 (loss) per share Pro forma non-GAAP net earnings per $ 0.13 $ 0.43 $ 0.60 $ 1.88 common share - diluted New agreements 43 38 72 78 executed Licensing and enforcement 28 27 40 45 programs generating revenues Licensing and enforcement 3 7 14 13 programs with initial revenues New patent 7 27 16 32 portfolios As of June30, 2013, trailing twelve-month revenues were as follows (in thousands): As of Date: Trailing Twelve- % Change Month Revenues^(*) June 30, 2013 $ 201,174 (12 )% March 31, 2013 $ 228,548 (9 )% December 31, 2012 $ 250,727 22 % September 30, 2012 $ 205,258 (12 )% June 30, 2012 $ 233,355 — % ______________________________ * Includes “other operating income.” As of June30, 2013, on a consolidated basis, we have generated revenues from 157 technology licensing and enforcement programs, as compared to 125 programs as of the end of the prior year quarter. Summary Financial Results For the Three Months Ended June 30, 2013 and 2012 Revenues (in thousands): Three Months Ended June 30, Change 2013 2012 $ % Revenues $ 23,110 $ 50,484 $ (27,374 ) (54 )% New revenue 43 38 — — agreements Licensing programs 28 27 — — generating revenues Licensing programs with 3 7 — — initial revenues In the second quarter of 2013, three licensees individually accounted for 41%, 20% and 12% of revenues recognized, as compared to one licensee individually accounting for 72% of revenues recognized during the second quarter of 2012. Cost of Revenues (in thousands): Three Months Ended June 30, Change 2013 2012 $ % Inventor $ 5,610 $ 9,573 $ (3,963 ) (41 )% royalties Contingent legal 4,024 6,607 (2,583 ) (39 )% fees Second quarter 2013 total revenues, less inventor royalties expense and contingent legal fees expense was $13,476,000, or 58% of second quarter 2013 revenues, as compared to $34,304,000, or 68% of revenues in the comparable prior year quarter. The decrease in total revenues, less inventor royalties expense and contingent legal fees expense as a percentage of total revenues was primarily due to a significantly higher percentage of revenues recognized during the three months ended June 30, 2012 having lower or no corresponding contingent legal fee obligations, as compared to the revenues recognized during the three months ended June30, 2013. The economic terms of the patent portfolio acquisition agreements and contingent legal fee arrangements, if any, including royalty rates, if any, contingent fee rates, if any, and other terms, vary across the patent portfolios owned or controlled by our operating subsidiaries. These expenses fluctuate period to period, based on the amount of revenues recognized each period, the terms and conditions of revenue agreements executed each period and the mix of specific patent portfolios with varying economic terms and characteristics generating revenues each period. Three Months Ended June 30, Change 2013 2012 $ % Litigation and licensing expenses - $ 9,918 $ 5,268 $ 4,650 88 % patents Litigation and licensing expenses-patents in the second quarter 2013 increased due primarily to an increase in strategic patent portfolio prosecution costs, an increase in international enforcement costs, and higher net levels of litigation support and third-party technical consulting expenses associated with our continued investment in ongoing and new licensing and enforcement programs commenced since the end of the comparable prior year quarter. We expect patent-related legal expenses to continue to fluctuate period to period in connection with our current and future patent acquisition, development, licensing and enforcement activities. Three Months Ended June 30, Change 2013 2012 $ % Amortization of $ 12,578 $ 5,393 $ 7,185 133 % patents Second quarter 2013 non-cash patent amortization charges increased due primarily to an increase in amortization expense related to new patent portfolios acquired since the end of the prior year period totaling $3,990,000 and an increase in scheduled patent amortization related to patent portfolios acquired in the latter portion of the prior year quarter totaling $2,097,000. Other Operating Expenses (in thousands): Three Months Ended June 30, Change 2013 2012 $ % Marketing, general and administrative $ 6,916 $ 5,903 $ 1,013 17 % expenses Non-cash stock compensation 6,268 6,000 268 4 % expense - MG&A Total marketing, general and $ 13,184 $ 11,903 $ 1,281 11 % administrative expenses Second quarter 2013 marketing, general and administrative expenses increased due primarily to a net increase in licensing, business development, and engineering personnel since the end of the prior year quarter and a net increase in corporate facilities and general and administrative costs. Income Taxes: Three Months Ended June 30, Change 2013 2012 $ % Benefit from (provision for) $ 9,050 $ (3,494 ) $ 12,544 (359 )% income taxes (in thousands) Effective tax 40 % 35 % rate The tax benefit (provision) for the second quarter of 2013, as compared to the prior year quarter, included the impact of the following: *A tax benefit for the second quarter of 2013 which reflects the application of an estimated annual effective tax rate of approximately 40% to the GAAP pre-tax net loss reported for the second quarter of 2013. *$1.5 million of foreign withholding taxes withheld by the applicable foreign tax authority on revenue agreements executed with third party licensees domiciled in certain foreign jurisdictions. The 2013 tax provision contemplates utilization of the foreign taxes withheld in 2013 as a credit against income tax expense calculated for financial statement purposes. *Noncash tax expense calculated without the excess benefit related to the exercise and vesting of equity-based incentive awards, which was credited to additional paid-in capital, not taxes payable, totaling $138,000 and $3.2 million for the second quarter of 2013 and 2012, respectively. Financial Condition (in thousands) Summary Balance Sheet Information: June 30, 2013 December 31, 2012 Cash and cash equivalents and $ 320,125 $ 311,279 investments Accounts receivable 16,781 9,843 Total assets 680,592 668,717 Accounts payable and accrued 15,593 9,235 expenses Royalties and contingent legal 19,986 12,508 fees payable Accrued patent acquisition 8,507 500 costs Total liabilities 61,688 50,239 Summary Cash Flow Information: Three Months Ended June Six Months Ended June 30, 30, 2013 2012 2013 2012 Net cash provided by (used in): Operating $ 1,279 $ 14,453 $ 18,104 $ 63,405 activities Investing (39,644 ) (36,227 ) (87,858 ) (313,113 ) activities Financing (5,887 ) 3,142 (3,141 ) 231,841 activities Patent Acquisition Costs. Patent related acquisition costs paid in the second quarter of 2013 totaled $2,250,000, as compared to $38,335,000 during the comparable prior year quarter. As of June 30, 2013 and June 30, 2012, accrued patent acquisition costs related to patent portfolios acquired during the second quarter of 2013 and 2012 totaled $8,507,000 and $10,200,000, respectively. Quarterly Dividends Paid. Cash outflows from financing activities for the second quarter of 2013 included the quarterly cash dividend of $0.125 per share, paid on May 30, 2013 to shareholders of record at close of business on May 3, 2013, totaling $6,149,000. See “Business Highlights and Recent Developments” below for a summary of patent portfolio acquisitions during the current quarter. Refer to the section below entitled “Summary Financial Information” for additional summary consolidated balance sheet, statements of operations and cash flow information as of and for the applicable periods presented. INFORMATION ABOUT NON-GAAP FINANCIAL MEASURES As used herein, “GAAP” refers to accounting principles generally accepted in the United States of America. To supplement our consolidated financial statements prepared and presented in accordance with GAAP, this earnings release includes financial measures, including (1) non-GAAP net income and (2) non-GAAP Earnings Per Share (“EPS”), that are considered non-GAAP financial measures as defined in Rule 101 of Regulation G promulgated by the Securities and Exchange Commission. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use these non-GAAP financial measures for internal financial and operational decision making purposes and as a means to evaluate period-to-period comparisons of the performance and results of operations of our core business. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the performance of our core business by excluding non-cash stock compensation charges, non-cash patent amortization charges and excess benefit related non-cash tax expense, that may not be indicative of our recurring core business operating results. These non-GAAP financial measures also facilitate management's internal planning and comparisons to our historical performance and liquidity. We believe these non-GAAP financial measures are useful to investors as they allow for greater transparency with respect to key metrics used by management in its financial and operational decision making and are used by our institutional investors and the analyst community to help them analyze the performance and operational results of our core business. Non-GAAP Net income and EPS.We define non-GAAP net income as net income calculated in accordance with GAAP, plus non-cash stock compensation charges, non-cash patent amortization charges and excess benefit related non-cash tax expense. Non-GAAP EPS is defined as non-GAAP net income divided by the weighted average outstanding shares, on a fully-diluted basis, calculated in accordance with GAAP, for the respective reporting period. Due to the inherent volatility in stock prices, the use of estimates and assumptions in connection with the valuation and expensing of share-based awards and the variety of award types that companies can issue under FASB ASC Topic 718, management believes that providing a non-GAAP financial measure that excludes non-cash stock compensation allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies, as well as providing our management with a critical tool for financial and operational decision making and for evaluating our own period-to-period recurring core business operating results. Similarly, due to the variability associated with the timing and amount of patent acquisition payments and estimates inherent in the capitalization and amortization of patent acquisition costs, management believes that providing a non-GAAP financial measure that excludes non-cash patent amortization charges allows investors to make meaningful comparisons between our recurring core business operating results and those of other companies, and also provides our management with a useful tool for financial and operational decision making and for evaluating our own period-to-period recurring core business operating results. Lastly, for financial reporting purposes, tax expense is required to be calculated without the excess tax benefit related to the exercise and vesting of equity-based incentive awards, however, the deduction related to the exercise and vesting of equity-based incentive awards is available to offset taxable income on our consolidated tax returns. Accordingly, the non-cash tax expense calculated without the excess benefit for financial statement purposes is credited to additional paid-in capital, not taxes payable, and does not represent a cash tax obligation. Management believes that providing a non-GAAP financial measure that excludes excess benefit related non-cash tax expense allows investors to assess our net results and the economic impact of income taxes based largely on cash tax obligations, make more meaningful comparisons between our recurring core business net results and those of other companies, and also provides our management with a useful tool for financial and operational decision making and for evaluating our own period-to-period recurring core business net results. There are a number of limitations related to the use of non-GAAP net income and EPS versus net income and EPS calculated in accordance with GAAP. For example, non-GAAP net income excludes significant non-cash stock compensation charges, non-cash patent amortization charges and excess benefit related non-cash tax expense that are recurring, and will continue to be recurring for the foreseeable future. In addition, non-cash stock compensation is a critical component of our employee compensation programs and non-cash patent amortization reflects the cost of certain patent portfolio acquisitions, amortized on a straight-line basis over the estimated economic useful life of the respective patent portfolio, and may reflect the acceleration of amortization related to recoupable up-front patent portfolio acquisition costs. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income and EPS and evaluating non-GAAP net income and EPS in conjunction with net income and EPS calculated in accordance with GAAP. The accompanying table provided below provides a reconciliation of the non-GAAP financial measures presented to the most directly comparable financial measures prepared in accordance with GAAP. ______________________________________________ A conference call is scheduled for today. The Acacia Research presentation and Q&A will start at 1:30 p.m. Pacific Time (4:30 p.m. Eastern). To listen to the presentation by phone, dial (888) 646-0797 for domestic callers and (706) 758-6764 for international callers, both of whom will need to enter the conference ID 70387697 when prompted. A replay of the audio presentation will be available for 30 days at (855) 859-2056 for domestic callers and (404) 537-3406 for international callers, both of whom will need to enter the Conference ID 70387697 when prompted. The call is being webcast by CCBN and can be accessed at Acacia's website at www.acaciaresearch.com. ABOUT ACACIA RESEARCH CORPORATION Acacia Research Corporation's subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation's subsidiaries control over 250 patent portfolios, covering technologies used in a wide variety of industries. Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our ability to become the licensing partner for companies, and our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the effect of the global economic downturn on technology companies, the ability to successfully develop licensing programs and attract new business, rapid technological change in relevant markets, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property in general and general economic conditions. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Forms 8-K and 8-K/A, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. The results achieved in the most recent quarter are not necessarily indicative of the results to be achieved by us in any subsequent quarters, as it is currently anticipated that Acacia Research Corporation's financial results will vary, and may vary significantly, from quarter to quarter. This variance is expected to result from a number of factors, including risk factors affecting our results of operations and financial condition referenced above, and the particular structure of our licensing transactions, which may impact the amount of inventor royalties and contingent legal feesexpenses we incur period to period. ACACIA RESEARCH CORPORATION SUMMARY FINANCIAL INFORMATION (In thousands, except share and per share information) (Unaudited) CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Three Months Ended June 30, Six Months Ended June 30, 2013 2012 2013 2012 Revenues $ 23,110 $ 50,484 $ 99,971 $ 149,524 Operating costs and expenses: Cost of revenues: Inventor 5,610 9,573 24,091 17,167 royalties Contingent 4,024 6,607 19,056 10,355 legal fees Litigation and licensing 9,918 5,268 19,566 8,649 expenses - patents Amortization 12,578 5,393 24,308 10,519 of patents Marketing, general and administrative expenses (including non-cash stock compensation expense of $6,268 and $11,426 for the three and 13,184 11,903 27,035 25,634 six months ended June 30, 2013, respectively, and $6,000 and $11,090 for the three and six months ended June 30, 2012, respectively) Research, consulting and other expenses 726 1,967 1,750 3,083 - business development Total operating 46,040 40,711 115,806 75,407 costs and expenses Operating (22,930 ) 9,773 (15,835 ) 74,117 income (loss) Total other 400 102 1,690 158 income Income (loss) from operations before (22,530 ) 9,875 (14,145 ) 74,275 provision for (benefit from) income taxes Provision for (benefit from) 9,050 (3,494 ) 5,778 (18,241 ) income taxes Net income (loss) including noncontrolling (13,480 ) 6,381 (8,367 ) 56,034 interests in operating subsidiaries Net (income) loss attributable to 977 (60 ) 977 215 noncontrolling interests in operating subsidiaries Net income (loss) attributable $ (12,503 ) $ 6,321 $ (7,390 ) $ 56,249 to Acacia Research Corporation Net income (loss) per common share attributable to Acacia Research Corporation: Basic earnings (loss) per $ (0.26 ) $ 0.13 $ (0.15 ) $ 1.22 share Diluted earnings $ (0.26 ) $ 0.13 $ (0.15 ) $ 1.19 (loss) per share Weighted average number of shares 48,008,998 47,944,193 47,934,810 46,155,846 outstanding, basic Weighted average number of shares 48,008,998 48,938,766 47,934,810 47,208,105 outstanding, diluted Reconciliation of GAAP Net Income (Loss) and EPS to Non-GAAP Net Income and EPS (In thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2013 2012 2013 2012 GAAP net income $ (12,503 ) $ 6,321 $ (7,390 ) $ 56,249 (loss) Non-cash stock 6,268 6,000 11,426 11,090 compensation Non-cash patent 12,578 5,393 24,308 10,519 amortization Excess benefit related non-cash 138 3,239 847 10,850 tax expense Non-GAAP net $ 6,481 $ 20,953 $ 29,191 $ 88,708 income Pro forma non-GAAP net earnings per $ 0.13 $ 0.44 $ 0.61 $ 1.92 common share — basic Pro forma non-GAAP net earnings per $ 0.13 $ 0.43 $ 0.60 $ 1.88 common share — diluted GAAP weighted-average 48,008,998 47,944,193 47,934,810 46,155,846 shares — basic GAAP weighted-average 48,458,797 48,938,766 48,407,023 47,208,105 shares — diluted ACACIA RESEARCH CORPORATION SUMMARY FINANCIAL INFORMATION (CONTINUED) (In thousands) (Unaudited) CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION June 30, December 31, 2013 2012 ASSETS Current assets: Cash and cash equivalents $ 148,909 $ 221,804 Short-term investments 171,216 89,475 Accounts receivable 16,781 9,843 Prepaid expenses and other current 8,455 3,441 assets Total current assets 345,361 324,563 Property and equipment, net of accumulated depreciation and 607 339 amortization Patents, net of accumulated 303,489 313,529 amortization Goodwill 30,149 30,149 Other assets 986 137 $ 680,592 $ 668,717 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued expenses / $ 22,100 $ 9,485 costs Royalties and contingent legal fees 19,986 12,508 payable Total current liabilities 42,086 21,993 Deferred income taxes 17,279 27,831 Other liabilities 2,323 415 Total liabilities 61,688 50,239 Total stockholders’ equity 618,904 618,478 $ 680,592 $ 668,717 ACACIA RESEARCH CORPORATION SUMMARY FINANCIAL INFORMATION (CONTINUED) (In thousands) (Unaudited) CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended June 30, Six Months Ended June 30, 2013 2012 2013 2012 Cash flows from operating activities: Net income (loss) including noncontrolling $ (13,480 ) $ 6,381 $ (8,367 ) $ 56,034 interests in operating subsidiaries Adjustments to reconcile net income (loss) including noncontrolling interests in operating subsidiaries to net cash provided by operating activities: Depreciation and 12,631 5,427 24,405 10,585 amortization Non-cash stock 6,268 6,000 11,426 11,090 compensation Excess tax benefits from (138 ) (3,239 ) (847 ) (10,850 ) stock-based compensation Change in valuation — — — (10,237 ) allowance on deferred taxes Other — 49 — 49 Changes in assets and liabilities: Accounts 28,570 (9,542 ) (6,938 ) (7,907 ) receivable Prepaid expenses (4,202 ) 648 (5,863 ) (271 ) and other assets Accounts payable and accrued (1,068 ) 3,492 7,362 13,795 expenses / costs Royalties and contingent legal (16,750 ) 5,008 7,478 (4,405 ) fees payable Deferred income (10,552 ) 229 (10,552 ) 5,522 tax Net cash provided by operating 1,279 14,453 18,104 63,405 activities Cash flows from investing activities: Purchases of property and (124 ) (164 ) (365 ) (188 ) equipment Purchase of available-for-sale (77,817 ) (95,190 ) (175,042 ) (239,952 ) investments Maturities and sales of 40,547 97,462 93,809 117,462 available-for-sale investments Purchase of ADAPTIX, Inc., net — — — (150,000 ) of cash acquired Patent acquisition (2,250 ) (38,335 ) (6,260 ) (40,435 ) costs paid Net cash used in investing (39,644 ) (36,227 ) (87,858 ) (313,113 ) activities Cash flows from financing activities: Proceeds from sale of common stock, (6,149 ) (101 ) (6,149 ) 218,983 net of issuance costs Contributions from noncontrolling interests in — — 1,920 1,920 operating subsidiary Excess tax benefits from 138 3,239 847 10,850 stock-based compensation Proceeds from exercises of stock 124 4 241 88 options Net cash provided by (used in) (5,887 ) 3,142 (3,141 ) 231,841 financing activities Decrease in cash and cash (44,252 ) (18,632 ) (72,895 ) (17,867 ) equivalents Cash and cash equivalents, 193,161 315,498 221,804 314,733 beginning Cash and cash equivalents, $ 148,909 $ 296,866 $ 148,909 $ 296,866 ending Business Highlights and Recent Developments^(2) Business highlights of the second quarter of 2013 and recent developments include the following: Revenues for the three months ended June30, 2013 included fees from the following technology licensing and enforcement programs: • Broadband Communications • Interstitial and Pop-Up Internet technology* Advertising technology • Business Process Modeling • Lighting Ballast technology technology • Camera Support technology • Location Based Services technology • Catheter Ablation technology* • Messaging technology • Digital Imaging technology • Mobile Computer Synchronization technology • Digital Signal Processing • NOR Flash technology Architecture technology • DMT technology • Online Auction Guarantees technology • Domain Name Redirection • Online Gaming technology technology • Gas Modulation Control Systems • Semiconductor Packaging technology technology* • Greeting Card technology • Surgical Access technology • Improved Memory Manufacturing • Suture Anchors technology technology • Information Portal Software • Telematics technology technology • Information Storage, Searching & • User Programmable Engine Control Retrieval technology technology • Intercarrier SMS technology • Video Analytics for Security technology ________________________________________ *Initial revenues recognized during the three months ended June 30, 2013. *A subsidiary of Acacia Research Group LLC entered into a patent rights agreement with RPX Corporation. *Advanced Data Access LLC, Smart Memory Solutions LLC and Smart Foundry Solutions LLC entered into a settlement agreement with Toshiba Corporation. This agreement resolved litigation that was pending in the United States District Court for the Eastern District of Texas, the United States District Court for the Northern District of California and United States District Court for the Central District of California. *Brandywine Communications Technologies LLC entered into license and settlement agreements with the following companies: • 3CX, Ltd. • Microserv, Inc. • BAIS, Inc. dba Bay Area • Mitel Network Corporation Internet Solutions • Estech Systems, Inc. • Nextgen Internet Systems, Inc. • Honeycomb Internet Services, • Other World Computing, Inc. LLC dba Winternet • Interlync Internet Services, • Precision Communications, Inc. Inc. • iSelect Internet, Inc. • The David Aldridge Company, Inc. • MBO Data, LLC • West Coast Internet, Inc. *Catheter Ablation Solutions LLC entered into a settlement agreement with American Medical Systems, Inc. The agreement resolved litigation that was pending in the United States District Court for the Central District of California, Southern Division. *Criminal Activity Surveillance LLC entered into a license and settlement agreement with Pelco, Inc. This agreement resolved patent litigation that was pending in the United States District Court for the Eastern District of California. *Gametek LLC entered into a settlement agreement that resolved the litigation between Gametek LLC and Gameview Studios, LLC, that was pending in the United States District Court for the Northern District of California under terms that are confidential. *Unified Messaging Solutions LLC entered into a license and settlement agreement with Capital One Financial Corporation and Ing Direct. This agreement resolved patent litigation that was pending in the United States District Court for the Western District of Texas. *Unified Messaging Solutions LLC entered into a settlement and license agreement with Citigroup Inc. The agreement resolved litigation that was pending in the United States District Court for the Northern District of Illinois. *Unified Messaging Solutions LLC entered into a settlement and license agreement with VMware, Inc. The agreement resolved litigation that was pending in the United States District Court for the Eastern District of Texas and the United States District Court for the Northern District of Illinois. *Acacia Research Group LLC and its affiliates continued their patent and patent rights acquisition activities, acquiring a total of 7 new patent portfolios in the second quarter of 2013, including the following: *In April 2013, acquired over 40 issued patents relating to microprocessor and memory technology and will share licensing revenue with the patent owner. *In April 2013, acquired the rights to an automotive illumination patent portfolio from Rambus Inc. (Nasdaq: RMBS), the innovative technology solutions company. The portfolio relates to automotive and vehicular illumination applications including headlights, taillights, and internal and external lighting. As part of this transaction, Rambus received an initial upfront payment and is expected to receive subsequent payments. *In June 2013, acquired patents for high speed circuit interconnect and display control technology used in consumer electronics, PCs and mobile devices such as smartphones, tablets, and laptops from a major semiconductor technology company. *In June 2013, acquired patents for content security used in consumer electronics and mobile devices such as smartphones, tablets, and laptops from a major semiconductor technology company. *In June 2013, acquired the rights to a patent portfolio covering ink jet printer and ink jet printing technologies. *In June 2013, acquired the rights to a patent portfolio covering printer and printing technologies. *In June 2013, obtained U.S. and Canadian patents relating to energy efficiency in commercial and residential building markets. The portfolio broadly covers reflective and radiant barrier insulation technology which dramatically improves heating and cooling efficiency. *Charlotte Rutherford joined Acacia Research Group LLC as Senior Vice President. Ms. Rutherford was most recently Deputy General Counsel, Intellectual Property for Schlumberger Limited, and designed/restructured and managed the global IP departments at Schlumberger, Colgate-Palmolive and Conoco over the past 12 years. She was previously Vice President and Associate General Counsel Intellectual Property for Colgate-Palmolive Inc. and Chief Intellectual Property Counsel for Conoco Inc. During her IP career, Ms. Rutherford has developed global IP licensing programs for several Fortune 500 companies with thousands of patents covering energy, electronics, specialty materials, NMR and sensor technologies that resulted in major revenue opportunities. Earlier in her career, Ms. Rutherford was General Counsel of Power Management and Advanced Magnetics for Honeywell International, a partner and legal manager of the chemical and pharmaceutical intellectual property practice with Gibbons, Assistant General Counsel for Minerals Technologies, formerly a division of Pfizer, Inc., and was Senior Counsel at Amerada Hess Corporation and Shell Oil Company. Ms. Rutherford holds a Bachelor and Master of Science in Engineering from Auburn University, an MBA from Rutgers University and a Juris Doctor from Loyola University. *Jaime Siegel joined Acacia Research Group LLC as Senior Vice President. Mr. Siegel was most recently Vice President, Senior IP Counsel of Sony Corporation of America and its Representative to Taiwan. Mr. Siegel's 15 year career at Sony included responsibilities for international IP licensing, litigation, mergers and acquisitions and strategic planning. During his career at Sony, Mr. Siegel led teams in developing numerous offensive licensing programs around international patent portfolios. He was also responsible for the identification and negotiation of intellectual property acquisitions and partnerships and negotiated joint ventures with the purpose of licensing intellectual property. Mr. Siegel was the chief negotiator on licensing projects in Europe, Korea, China, Taiwan and the United States including several core asset licensing programs. He also served on the Board of Directors of MPEG LA LLC, including as Chairman of the Board. Earlier in his career, Mr. Siegel was an Associate with both Kenyon & Kenyon and Fish & Neave. Mr. Siegel holds a B.S. Mechanical Engineering from Clarkson University and a J.D. from the Brooklyn Law School. _______________________ As used herein, “Acacia Research Corporation,” “we,” “us,” and “our” refer to Acacia Research Corporation and/or its wholly and ^(1) majority-owned operating subsidiaries. All intellectual property acquisition, development, licensing and enforcement activities are conducted solely by certain of Acacia Research Corporation's wholly and majority-owned operating subsidiaries. Acacia Research Group LLC, Advanced Data Access LLC, Brandywine Communications Technologies LLC, Catheter Ablation Solutions LLC, ^(2) Criminal Activity Surveillance LLC, Gametek LLC and Unified Messaging Solutions LLC are wholly and majority-owned operating subsidiaries of Acacia Research Corporation. Contact: Acacia Research Corporation Rob Stewart Investor Relations Tel 949-480-8300 Fax 949-480-8301 or Media Contact: SpecOps Communications Adam Handelsman President & Founder 212-518-7721 email@example.com
Acacia Research Reports Second Quarter Financial Results and Announces Payment of Quarterly Dividend
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