logo
Share SHARE
FONT-SIZE Plus   Neg

RPX Closes Altitude Capital Transaction

Patent protection company RPX Corp. (RPXC) said Thursday it has executed definitive agreements on its largest syndicated transaction to date pertaining to Altitude Capital Partners with the participation of more than 10 of its clients.

In March end, RPX entered into certain agreements pursuant to which RPX will contribute about $46 million to fund the acquisition of all right, title and interest in and to certain patent assets held by Digitude Innovations LLC, the purchase of all of the issued and outstanding membership interests of Altitude Capital Management LLC, and other related transactions.

RPX said the deal will increase its portfolio of patent assets by 30 percent and will remove the potential exposure Altitude Capital Partners and its management arm, Altitude Capital Management LLC, presents to the clients of RPX.

Altitude Capital Partners is a private equity fund whose portfolio companies have generated more than $700 million in licensing revenue since 2005.

On closure of the deal by the end of April 2012, RPX will obtain ownership and rights to more than 500 US patents and certain sub-license rights to patents, and will also dismiss 22 lawsuits in which 10 RPX clients are defendants.

The deal also brings certain restrictive covenants from Robert Kramer, the founder of ACM and ACP, to prevent him from licensing patents against the RPX client network for an extended period of time, and the unique data, market insights and NPE analysis expertise of ACM.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT