Acacia Research Wades Into Digital Currency Market

Patent-licensing company Acacia Research Corp. said Feb. 14 it has invested in bitcoin technology company Bitzumi Inc. to expand into the digital currency market.

Acacia has completed an initial $1 million equity investment in Bitzumi in a joint venture and services agreement, the company said in statement. Acacia has received a short-term warrant to purchase $4 million in Bitzumi shares and has a right to acquire an additional $5 million of Bitzumi shares at $2.50 per share under the pact, it said.

Acacia is the latest publicly-traded intellectual property company that is dipping its toe into cryptocurrencies. Recent case law ...