SAN FRANCISCO, Jan. 17, 2013 (GLOBE NEWSWIRE) -- RPX Corporation (Nasdaq:RPXC), a leading provider of patent risk management solutions, announces that it has acquired sub-license rights to patents related to Web-based application delivery from rich internet application (RIA) software tools developer, Droplets, Inc. This transaction eliminates RPX clients' exposure to a broad-based litigation campaign. Four RPX clients have been dismissed from the litigation with three remaining clients in the process of being dismissed. In the transaction, which closed in December, RPX also acquired option rights to grant sublicenses under the Droplets patents to many prospective clients.
With a 224% increase in financial services defendants targeted in patent suits from 2006 to 2012, RPX research finds that patent holders are increasingly targeting technologies used by consumer-facing, financial services companies. As the majority of customers now rely on the convenience of web and mobile banking, the patent risks associated with these technologies has increased.
"This transaction illustrates how RPX can help mitigate the increasing patent risk faced by financial services companies," said John A. Amster, Chief Executive of RPX. "Our ability to clear risk efficiently by acquiring valuable patent rights delivers significant value to our client network. We prevent litigation and lower or eliminate legal expenses."
As of September 30, 2012, RPX had invested over $500 million to acquire more than 2,950 US and international patent assets and rights, and had a client network of 128 members active in seven key sectors: consumer electronics and PCs, E-commerce and software, financial services, media content and distribution, mobile communications and devices, networking, and semiconductors.
About RPX Corporation
RPX Corporation (Nasdaq:RPXC) is a leading provider of patent risk solutions, offering defensive buying, acquisition syndication, patent intelligence, insurance services, and advisory services. Since its founding in 2008, RPX has introduced efficiency to the patent market by providing a rational alternative to litigation. The San Francisco-based company's pioneering approach combines principal capital, deep patent expertise, and client contributions to generate enhanced patent buying power. By acquiring patents and patent rights, RPX helps to mitigate and manage patent risk for its growing client network.