| | | Contacts: Rob Stewart |
| | | Investor Relations |
| FOR RELEASE | | Tel (949) 480-8300 |
| March 7, 2007 | | Fax (949) 480-8301 |
ACACIA TECHNOLOGIES ANNOUNCES
MANAGEMENT CHANGE
Newport Beach, CA. - (BUSINESS WIRE) March 7, 2007 - Acacia Research Corporation (Nasdaq: ACTG: CBMX) announced today that Robert Berman, who was Chief Operating Officer and General Counsel, has left the company... Chief Executive Officer, Paul Ryan and President, Robert “Chip” Harris will assume the duties of the operating officer.
Acacia’s Chairman and CEO, Paul Ryan, commented, “I thank Rob personally and on behalf of the company for the valuable contributions he has made in building our patent licensing business. It was a privilege to work with Rob and I wish him continued success.”
“I thank Acacia for giving me the opportunity to help build a business in the exciting and emerging area of patent licensing and enforcement and look forward to my next challenge,”, said Rob Berman.
Chief Executive Officer, Paul Ryan and President, Robert “Chip” Harris will assume the duties of Chief Operating Officethe principal roperating officer.
ABOUT ACACIA RESEARCH CORPORATION
Acacia Research Corporation comprises two operating groups, Acacia Technologies group and CombiMatrix group.
The Acacia Technologies group develops, acquires, and licenses patented technologies. Acacia controls 62 patent portfolios, which include U.S. patents and certain foreign counterparts, covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud protection, database management, data encryption & product activation, digital media transmission (DMT®), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, resource scheduling, spreadsheet automation, and user activated Internet advertising.
The CombiMatrix group is developing a platform technology to rapidly produce customizable arrays, which are semiconductor-based tools for use in identifying and determining the roles of genes, gene mutations and proteins. The CombiMatrix's group's technology has a wide range of potential applications in the areas of genomics, proteomics, biosensors, drug discovery, drug development, diagnostics, combinatorial chemistry, material sciences and nanotechnology.
Acacia Research-Acacia Technologies (Nasdaq: ACTG) and Acacia Research-CombiMatrix (Nasdaq: CBMX) are both classes of common stock issued by Acacia Research Corporation and are intended to reflect the performance of the respective operating groups and are not issued by the operating groups.
Information about the Acacia Technologies group and the CombiMatrix group is available at 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 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 recent economic slowdown affecting technology companies, our ability to successfully develop products, rapid technological change in our markets, changes in demand for our future products, legislative, regulatory and competitive developments 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.
