Acacia Makes Investment In and Forms Strategic Partnership with Veritone
NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Acacia Research Corporation (NASDAQ: ACTG) announced today that it has formed a strategic partnership with Veritone, Inc. Veritone is a leading cloud-based Artificial Intelligence (“AI”) technology company that is pioneering next generation search and analytics through their proprietary Cognitive Media Platform™ (CMP). Under the partnership, Acacia will leverage its expertise to help Veritone build its patent portfolio and execute upon its overall intellectual property (“IP”) strategy. In order to enhance Veritone’s leadership position in the field of machine learning and AI, Acacia is providing $20 Million in funding to Veritone in the form of two $10 Million loans convertible into equity. Additionally, upon certain events and the achievement of milestones by Veritone, Acacia will have the opportunity to invest up to an additional $30 Million in Veritone,…
Link to Full Article: Acacia Makes Investment In and Forms Strategic Partnership with Veritone
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