Acacia Research Corporation Buyback
OLI recorded this information on 11/15/2013
Acacia Research Corporation
Acacia Research Corporation (NASDAQ:ACTG">ACTG) announced today that the Company's Board of Directors has authorized a program for repurchases of shares of the Company's outstanding common stock. The stock repurchase program will be put into effect immediately. Under the stock repurchase program, the Company is authorized to purchase in the aggregate up to $70 million of its common stock through the period ending May 14, 2014. Repurchases may be made from time to time by the Company in the open market or in block purchases in compliance with applicable Securities and Exchange Commission rules.
Acacia Research invests in intellectual property and related absolute return assets and engages in the licensing and enforcement of patented technologies. Co. partners with inventors and patent owners, from small entities to large corporations, applying its legal and technology capabilities to patent assets to unlock the financial value in their patented inventions. Co. is an intermediary in the patent marketplace. Co.'s subsidiaries own or control the rights to patent portfolios covering technologies used in various industries, including: transportation and automotive, telecommunications, semiconductor, consumer electronics, energy efficiency, wireless, video/imaging and medical devices.
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Strong Buy (4.00 out of 4)