Acacia Research Corporation (Nasdaq: ACTG) announced today that it has expanded its business to include patented technologies in the energy industry, as a subsidiary has acquired patents relating to oil and gas production. The patents relate to solids separation technology which addresses removal of solids from drilling fluids used in oil and gas wells.
Acacia’s CEO Paul Ryan, commented, “We see the energy industry as a significant new market for the continued expansion of our patent licensing business in 2013. Acacia has been very successful in generating revenue sharing with patent owners in the technology sector. In 2012 Acacia began to expand its business with the successful entry into the medical technology and automotive industries. Acacia plans to continue this expansion and partner with patent owners who have developed new technological advances in all areas of the energy industry.”
Source: Business Wire
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