Acacia Subsidiary and Philips enter into settlement and license agreement
NEWPORT BEACH, Calif. - Acacia Research Corporation (NASDAQ: ACTG) announced today that Light Transformation Technologies LLC, a subsidiary of Acacia Research Corporation, has entered into a settlement and license agreement with Koninklijke Philips Electronics N.V. The agreement resolves patent litigation, Civil Action Case No. 2:09-cv-00357, pending in the United States District Court for the Eastern District of Texas.
The patented technology in this litigation generally relates to light emitting diodes (LEDs) and, more particularly, to light transformers for efficiently directing and redistributing light from a light source.
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Acacia Research's subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research's subsidiaries control over 150 patent portfolios, covering technologies used in a wide variety of industries.
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Acacia Research Corporation Rob Stewart, Investor Relations Tel 949-480-8300 Fax 949-480-8301