a real deal - lodge-net
biz.yahoo.com
Acacia Technologies Licenses Digital Media Transmission Technology To LodgeNet, Industry-Leader for Hotel Video-On-Demand
Tuesday May 13, 11:48 am ET
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--May 13, 2003--Acacia Research Corporation (Nasdaq:ACTG - News; Nasdaq:CBMX - News) announced today that its Acacia Technologies Group, has licensed its Digital Media Transmission ("DMT") technology to LodgeNet Entertainment Corporation (Nasdaq:LNET - News), the industry-leader for hotel video-on-demand. LodgeNet provides on-demand movies and other services to 5,700 hotel properties with 960,000 rooms serving 260 million guests annually.
Acacia will receive recurring quarterly licensing fees from LodgeNet, commencing in the third quarter and ending upon the expiration of the DMT patents, for each of its digital rooms. LodgeNet has deployed digital services in 300,000 of its rooms and plans to have digital services installed in over 40% of its 960,000 rooms by the end of 2003.
The LodgeNet agreement is the 24th licensing agreement for Acacia's DMT technology. The DMT Technology is supported by pioneering patents covering the transmission and receipt of digital audio and digital video content, commonly known as audio-on-demand, video-on-demand, and audio/video streaming. |
