NEWPORT BEACH, Calif. -- Acacia Research Corporation (Nasdaq:ACTG) (Nasdaq:CBMX) announced today that Financial Systems Innovation LLC, a wholly owned subsidiary of the Acacia Technologies group, a leader in technology licensing, has entered into non-exclusive licenses covering a patent that applies
"We previously licensed more than three dozen companies under our credit card fraud protection technology before the United States Patent Trademark Office granted two reexaminations concerning the patent. In late December of 2006, the USPTO issued a Notice of Intent to Issue a Reexamination Certificate, stating that the claims would remain valid without amendment. Linens 'n Things, Inc. is the first company we have licensed for our credit card fraud protection technology since this communication from the USPTO," commented Paul Ryan, Chairman and CEO of Acacia.
The patented technology generally relates to a computerized system for protecting retailers and consumers engaged in credit card, check card, and debit transactions. The system includes an electronic card reader, and the generation and use of a transaction number, which specifically identifies each transaction processed within the system. As a result, the retailer does not necessarily have to print detailed information concerning the cardholder's identity or account number on the customer's receipt.
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 59 patent portfolios, which include U.S. patents and certain foreign counterparts, covering technologies used in a wide variety of industries including audio/video enhancement & synchronization, broadcast data retrieval, computer memory cache coherency, credit card fraud protection, database management, data encryption & product activation, digital media transmission (DMT[R]), digital video production, dynamic manufacturing modeling, enhanced Internet navigation, image resolution enhancement, interactive data sharing, interactive television, laptop docking station connectivity, microprocessor enhancement, multi-dimensional bar codes, network data storage, resource scheduling, rotational video imaging, spreadsheet automation, user activated Internet advertising and web conferencing & collaboration software.