"Steve and Bob have played key roles in helping RPX achieve its leadership position in the patent business, and we are grateful for their many contributions. We wish them every success in their next ventures," said
"Over the past months, we have outlined a new strategic direction for RPX's patent business, pursuing initiatives and new lines of business that leverage our expertise and unique position in the patent space. We are now announcing a restructuring to support these initiatives and enhance our ability to deliver value in our patent business," said
As part of this effort,
"I am confident that Max's demonstrated leadership ability, client-focused orientation, and significant transactional experience will make him highly successful in this new role,"
As part of the reorganization,
"Neal has proven himself to be not only an experienced and effective manager, but also has shown a keen ability to develop strategic plans and execute quickly. Andy's significant industry experience and client perspective have been a great asset in enhancing existing and identifying new solutions to serve our clients' evolving needs. I am delighted to have them and the rest of our management team work with me to further advance RPX's position as a leading service provider in the patent space," said
Fourth Quarter Outlook
Separately, the Company reaffirmed the fourth quarter revenue guidance it provided on
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include the statements by management, statements regarding RPX's future financial performance as well as any statements regarding the Company's strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, among others, the success of the Company's new initiatives, changes in our subscription fee rates, changes in the accounting treatment associated with how we recognize revenue under subscription agreements, and the Company's ability to attract new clients and retain existing clients with respect to our patent risk management and discovery services. Forward-looking statements are often identified by the use of words such as, but not limited to, "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "seek," "should," "target," "will," "would," and similar expressions or variations intended to identify forward-looking statements. More information about potential factors that could affect the Company's business and financial results is contained in the Company's most recent annual report on Form 10-K, its quarterly reports on Form 10-Q, and the Company's other filings with the
As of September 30, 2017, RPX had invested over $2 billion to acquire more than 18,500 US and international patent assets and rights on behalf of more than 325 clients in eight key sectors: automotive, consumer electronics and PCs, E-commerce and software, financial services, media content and distribution, mobile communications and devices, networking, and semiconductors.
RPX subsidiary Inventus is a leading international discovery management provider focused on reducing the costs and risks associated with the discovery process through the effective use of technology solutions. Inventus has been providing litigation support services to corporate legal departments, law firms and government agencies since 1991.
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