Acacia Research Acquires Interest in Mediaconnex Communications
PASADENA, Calif.--(BUSINESS WIRE)--Dec. 20, 1999--Acacia Research Corporation (Nasdaq:ACRI) announced today that it has acquired a 31% interest in Mediaconnex Communications, a business-to-business e-commerce company focused on the $90 billion advertising market.
Acacia Research was the lead investor in a $3 million first round financing that included the Volpe Brown Whelan Raptor Fund.
Mediaconnex's management team is led by co-founders, Sean Atkins and Steven Aquavia, whose original business plan was named "Best Business Plan of 1999" by the nation's top-ranked entrepreneurial studies program at the University of Southern California Graduate School of Business.
Sean Atkins has a background in television programming and online development with Disney/ABC Cable, idealab!, Sony and Warner Bros. Online. Steven Aquavia's background encompasses broadcast media management, advertising and online marketing with Western International Media, the Los Angeles Times and Smart and Friendly.
Mediaconnex's management and advisory team includes Rob Ferber, founder of OpenSales and founding technologist and former Vice President of Technology of eToys; Ray Gadbois, former Vice President of Marketing of Oracle and PeopleSoft; Janet Giese, former Manager, Network Systems and Regional Sales Manager of Enterprise Systems; William Keenan, former Sr. Vice President and Chief Financial Officer of E! Television; Amit Kumar, Ph.D., CEO of Signature BioScience Inc. and former Entrepreneur in Residence of Oak Investment Partners; and Tom O'Malia, Director of the USC Center for Entrepreneurial Studies. |
