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CNNMoney: Acacia Reaches Settlement With Shell Oil

Acacia Research in Settlement With Shell Oil on Credit Card Patent Dispute; Terms Undisclosed

October 26, 2007: 10:42 AM EST

NEW YORK (Associated Press) – Acacia Research Corp., which develops, licenses and acquires patented technologies, said Friday it agreed to settle a patent dispute with Shell Oil Co. regarding credit card fraud protection technology.

Shell Oil is a unit of Royal Dutch Shell PLC. Terms of the settlement were not disclosed.

The agreement between Acacia’s Financial Systems Innovation LLC unit and Shell covers patents relating to a computerized system for protecting retailers and consumers engaged in credit card, check card, and debit transactions. The system includes an electronic card reader and the generation and use of a transaction number which identifies each transaction in the system.

Shares of Acacia Research added 17 cents to $15.80 in morning trading.

http://money.cnn.com/news/newsfeeds/articles/apwire/99419513cb57bcc3f5492d14fd2b752b.html

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