Acacia Subsidiary Collaborates with Packers Plus for the Licensing of Multi-Zonal Completion Technology
August 10 2015 - 5:00AM
Business Wire
Packers Plus Energy Services Inc., an innovative oilfield
service provider, in conjunction with a subsidiary of Acacia
Research Corporation (NASDAQ: ACTG), the leader in patent
licensing, announced their collaboration on the licensing of a set
of fundamental patents related to multi-zonal completion of
horizontal wells including ball-drop, sliding sleeve and packer
technology for use in the hydraulic fracturing of both tight and
conventional oil and gas reservoirs. This technology has been
applied in oilfields across North America and worldwide and has
contributed significantly to the tremendous growth in oil and gas
production from unconventional shale formations.
“We are pleased to be working with Acacia as our licensing
partner for these patents because of their proven expertise and
success in obtaining fair value for the use of intellectual
property. This transaction enables us to further unlock the
investment and the value from our R&D while focusing our
internal resources and investments in developing and delivering
world class completion technologies to the market,” said Dan
Theming, President and CEO at Packers Plus.
"Acacia is delighted to be partnering with Packers Plus, whose
revolutionary products have attracted widespread adoption across
the industry,” commented Matthew Vella, Acacia CEO and President.
“We continue to grow our business in the Energy sector as
highlighted by this collaboration and we look forward to seeing our
recent acquisitions grow our base of future revenues."
ABOUT ACACIA RESEARCH CORPORATION
Founded in 1993, Acacia Research Corporation (NASDAQ: ACTG) is
the industry leader in patent licensing. An intermediary in the
patent marketplace, Acacia partners with inventors and patent
owners to unlock the financial value in their patented inventions.
Acacia bridges the gap between invention and application,
facilitating efficiency and delivering monetary rewards to the
patent owner.
For more information, visit: 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, including those of
Matthew Vella relating to the growth of our energy business and the
growth of our base of future revenues, are based upon our current
expectations and speak only as of the date hereof. Our ability to
grow the business in the Energy sector and grow our base of future
revenues may differ materially and adversely from that expressed in
any forward-looking statements as a result of various factors and
uncertainties, including the ability to source and add new patent
portfolios, the economic slowdown affecting 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150810005434/en/
Acacia Research CorporationRob Stewart, 949-480-8300Investor
Relationsrs@acaciares.comorSpecOps CommunicationsAdam Handelsman,
212-518-7721President & FounderAcacia@SpecOpsComm.com
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