Wednesday, February 14, 2018

Acacia Research Makes Move Into Blockchain, Invests In Bitzumi

Newport Beach-based patent licensing firm Acacia Research has made its first move into the blockchain and cryptocurrency market, saying this morning that it has made an investment in New York-based Bitzumi. According to Acacia, it invested $1M in equity in Bitzumi in a joint venture, with the option to invest up to an additional $9M in the company. Bitzumi is developing technology for the cryptocurrency and blockchain industries, including a next generation decentralized exchange. According to Acacia, the investment in Bitzumi represents its first investment into the cryptocurrency and blockchain marketplaces.

---