Shares of Newport Beach-based Acacia Research Corp. rose 5% Thursday after the company said it inked a licensing deal with Sony Corp.
The technology covered by the licensing deals relate to a noise reduction filtering system for digital video compression, and for video and audio signals received by digital radios and video displays.
The agreement with Sony resolves a patent infringement lawsuit that was pending in U.S. District Court for the Northern District of Illinois.
Acacia acquires patents related to audio and video transmission, imaging and other technologies. It then targets companies that it believes is violating its patents and files lawsuits against those that don’t sign licensing pacts.
Acacia closed at $4.8 on Thursday.
