Welcome to our dedicated page for Acacia Research Corporation news (Ticker: ACTG), a resource for investors and traders seeking the latest updates and insights on Acacia Research Corporation stock.
Acacia Research Corporation (Nasdaq: ACTG) is a leading company in the field of patent licensing and strategic business acquisitions. By partnering with patent owners, Acacia uses its extensive legal and technological expertise to unlock substantial financial value from patent assets, serving as an intermediary in the patent market to enhance efficiency and deliver monetary rewards to patent owners. Since its inception, Acacia has generated over $1.2 billion in revenue and returned more than $705 million to its patent partners.
Acacia's business model focuses on acquiring and managing companies across diverse industries such as industrial, energy, technology, and healthcare. Through strategic acquisitions, restructurings, and investments, the company aims to unlock value in these businesses. Acacia operates three primary segments: Intellectual Property Operations, Industrial Operations, and Energy Operations. The Intellectual Property segment specializes in licensing and enforcing patented technologies. The Industrial segment designs and manufactures printers and consumable products for industrial printing applications, while the Energy segment is involved in oil and gas exploration, development, and production.
As of November 2023, Acacia announced its financial results for the third quarter of 2023, revealing a consolidated revenue of $10.1 million. This includes a significant achievement with the sale of its shares in Arix Bioscience PLC for $57.1 million, expected to complete in Q1 2024. Acacia also acquired a majority stake in Benchmark Energy II LLC, focusing on the growth of oil and gas assets in Texas and Oklahoma. Additionally, the company approved a stock repurchase program valued at up to $20 million.
Acacia continues to pursue attractive business opportunities based on the attractiveness of underlying cash flows, irrespective of a specific investment horizon. With a robust capital base and deep industry relationships, Acacia is well-positioned to drive value in its acquired businesses by focusing on people, process, and performance.
Acacia Research Corporation (NASDAQ: ACTG) will release its first quarter 2023 financial results on May 11, 2023, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. ET on the same day. Investors can participate by calling 888-506-0062 for U.S. and Canadian callers, or 973-528-0011 for international participants, referencing conference ID 475927. The call will be webcasted on the company’s website under Events & Presentations, with a replay available for 30 days post-call. Acacia is known for its strategy of purchasing businesses by leveraging flexible capital through its partnership with Starboard Value LP.
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