Shares of Acacia Research Corporation (NASDAQ: ACTG)
surged in trading on Friday after the Newport Beach, California-based company
announced that its subsidiary acquired ADAPTIX Inc,, a pioneer in the
development of 4G technologies for wireless systems. The company acquired
ADAPTIX for $160 million.
Acacia Research shares rose to an intra-day high of
$39.94 before ending the day nearly 7% higher on above average volume. The rally
has pushed Acacia Research shares above their 50-day and 200-day moving
averages.
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Corporation please click here…
