logo
Plus   Neg
Share
Email

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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT