EXHIBIT 99.1
ACACIA
RESEARCH
CORPORATION
CONTACTS: Rob Stewart
FOR RELEASE Investor Relations
- ----------- Tel (949) 480-8300
January 31, 2005 Fax (949) 480-8301
Email: rs@acaciares.com
ACACIA TECHNOLOGIES COMPLETES ACQUISITION
OF RIGHTS TO 27 PATENT PORTFOLIOS
ACQUISITION EXPANDS REVENUE
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GENERATING OPPORTUNITIES
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Newport Beach, CA. - (BUSINESS WIRE) January 31, 2005 - Acacia Research
Corporation (Nasdaq: ACTG: CBMX) announced today that it has acquired the assets
of Global Patent Holdings, LLC, a privately held patent holding company based in
Northbrook, Illinois, which owns 11 patent licensing companies including
TechSearch, LLC (www.techsearch-llc.com). Acacia had previously announced the
signing of a binding letter of intent, subject to Acacia's due diligence which
was recently completed. The acquisition gives the Acacia Technologies Group
ownership of companies that control 27 patent portfolios, which include 120 U.S.
patents and certain foreign counterparts, and cover technologies used in a wide
variety of industries.
Acacia paid $5 million in cash and issued approximately 3.9 million
shares of Acacia Research--Acacia Technologies stock, and will pay an additional
$2 million in cash over two years.
"This acquisition significantly expands and diversifies our revenue
generating opportunities and accelerates the execution of our business strategy
of acquiring, developing and licensing patented technologies. We will continue
to acquire additional patent portfolios, as Acacia moves toward its goal of
becoming the leading technology licensing company," said Paul Ryan, Chairman &
CEO of Acacia.
The new patents relate to certain aspects of various technologies or
products, including:
o Broadcast Equipment
o Broadcasting and Data Transmission
o Cache Coherency
o Credit Card Receipt Processing
o Data File Synchronization
o Datamatrix Bar Codes
o Dynamic Manufacturing Models
o Encryption and Product Activation
o Hand Held Endoscopes
o Image Resolution or Enhancement
o Interactive Simulation Systems
o Interstitial Internet Advertising
o Peer to Peer Network Communications
o Programs for Resource Scheduling/Displaying Interrelated Tables
o Spreadsheet Programs
o Video Noise Reduction and Audio/Video Synchronization
Acacia is currently licensing its Digital Media Transmission (DMT(R))
technology and has entered into 293 DMT(R) licensing agreements, including 107
cable TV licenses, 181 licenses for online entertainment, movies, news, sports,
e-learning and corporate websites and licenses with 5 companies that provide
over 90% of video-on-demand TV entertainment to the hotel industry in the United
States.
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 29 patent portfolios, which include 126 U.S.
patents, and certain foreign counterparts, covering technologies used in a wide
variety of industries. Acacia's Digital Media Transmission (DMT(R)) technology
relates to transmission and receiving systems commonly known as video-on-demand,
and audio/video streaming, and is used for distributing digital content via
several means including Internet, cable, satellite and wireless systems.
The CombiMatrix group is developing a platform technology to rapidly produce
customizable active biochips, which are semiconductor-based tools for use in
identifying and determining the roles of genes, gene mutations and proteins.
CombiMatrix's technology has a wide range of applications including DNA
synthesis/diagnostics, drug discovery, and immunochemical detection.
CombiMatrix's Express Track(sm) drug discovery program is a systems biology
approach, using its technology, to target common viral diseases with siRNA
compounds.
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.
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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.