Subsequent Events

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

In January 2012, pursuant to the terms and conditions of the Agreement and Plan of Merger dated as of November 22, 2011 among Acacia Research Group LLC ("ARG"), a wholly owned subsidiary of Acacia, Apollo Patent Corp., a newly-formed, wholly owned subsidiary of ARG (“Merger Sub”), ADAPTIX, Inc., a Delaware corporation (“ADAPTIX”), and Baker Communications Fund II (QP), L.P., solely in its capacity as shareholder representative, ARG completed its acquisition of ADAPTIX through the merger of Merger Sub with and into ADAPTIX, with ADAPTIX as the surviving corporation (the “Merger”). Upon completion of the Merger, the separate corporate existence of Merger Sub ceased and ADAPTIX became a wholly owned subsidiary of ARG. On the date of acquisition, ADAPTIX held no material assets other than its portfolio of patents and $10 million of cash on hand. The consideration paid by ARG in connection with the Merger, totaled approximately $160,000,000, paid in cash. ADAPTIX's patent portfolio is comprised of approximately 230 issued and pending patents in 13 countries, extending across a broad range of 4G technologies including OFDMA and MIMO.

In February 2012, Acacia raised gross proceeds of $225,000,000 through the sale of 6.12 million shares of our common stock at a price of $36.75 per share in a non-registered direct offering with certain institutional accredited investors. Net proceeds, net of placement agent fees and estimated offering expenses totaled $219,112,000. We intend to use the net proceeds of this private placement to finance pending and future acquisitions of patents and patent royalties and other patent licensing vehicles and companies with patent assets, and for working capital and general corporate purposes.