Acacia Research announced that its Optical Memory Storage subsidiary has entered into a settlement and license agreement with Ritek Corporation covering a portfolio of patents that apply to rewritable phase change optical discs (CD-RW, DVD±RW, BD-RE).
Unedited press release follows:
Acacia Subsidiary Enters into Settlement Agreement with Ritek Corporation
NEWPORT BEACH, Calif. — Acacia Research Corporation (Nasdaq: ACTG) announced today that its wholly owned subsidiary, Optical Memory Storage LLC, has entered into a settlement and license agreement with Ritek Corporation covering a portfolio of patents that apply to optical memory storage solutions.
This settlement agreement resolves patent litigation Civil Action No. 2:11-cv-12566-PDB-MJH that was pending in the United States District Court for the Eastern District of Michigan.
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Acacia Research Corporation’s subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenue. Acacia Research Corporation’s subsidiaries control over 200 patent portfolios, covering technologies used in a wide variety of industries.
Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearchgroup.com and www.acaciaresearch.com.