Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

RPX Closes Altitude Capital Transaction

RELATED NEWS
Trade RPXC now with 

Patent protection company RPX Corp. (RPXC: Quote) 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.

Register
To receive FREE breaking news email alerts for RPX Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Nike Inc., the world's largest athletic shoes and apparel maker, said Thursday after the markets closed that its second quarter profit rose 23% from last year, helped by higher revenue and improved gross margin. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. Citing extreme fluctuation of the ruble, Apple Inc. (AAPL) has reportedly discontinued its online sales of products in Russia. Despite efforts of the Russian central bank, the ruble has been spiraling downward, with oil prices plunging to historic levels. The ruble shed around 19 percent on Wednesday.... General Motors said it has halted the delivery of cars to dealerships in Russia as it strives to overcome the business risks stemming from the collapse of the ruble.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.