RPX Corporation, which bills itself as a defensive patent aggregator and aims to neutralize NPEs (aka patent trolls) by buying up patents and licensing them to clients for an annual subscription fee, announced today that its initial public offering exceeded expectations, raising approximately $159.6 million.
The company, co-founded by Intellectual Ventures veterans John Amster and Geoffrey Barker, filed for the IPO in January and had hoped to raise $100 million. The offering, however, priced higher than anticipated, bringing in $19/share compared to an anticipated $16 to $18/share.
As of the end of March, RPX had lined up 80 clients, including hightech heavyweights like Google, Cisco, Nokia, and Verizon. It brought in $94.9million in revenue in 2010.
RPX began trading today on the Nasdaq exchange under the "RPXC" ticker symbol. The stock initially spiked to $24.36 before falling to $23.05 in early morning trading.
One thing I find interesting in a recent FTC report is the FTC's distinction between "good" NPEs and patent trolls (which it refers to as "PAEs"). Many have long noted that there is a need to differentiate between NPEs such as universities and those other entities who abuse the system through arguably-excessive patent litigation. Distinguishing between those bad actors and other NPEs may be helpful in narrowing the focus and the terms of the debate over patent trolls.
http://www.youtube.com/watch?v=LkQELhZeDYQ
Posted by: patent litigation | May 09, 2011 at 11:42 AM