SAN FRANCISCO, Dec. 14, 2017 /PRNewswire/ -- RPX Corporation
(NASDAQ: RPXC), the leading provider of patent risk and discovery
management solutions, today announced that Steve Swank, Chief Revenue Officer, and
Bob Heath, Chief Strategy Officer,
are leaving the Company.
"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 Marty Roberts, Chief
Executive Officer and President of RPX.
"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 Mr. Roberts.
As part of this effort, Max
Straube, currently Vice President of Client Development, has
been named Senior Vice President and will oversee the Company's
newly formed Client Services group. "Client Services will integrate
the functions of both the client- and prospect-facing parts of our
organization in an industry-focused manner to optimize the delivery
and sales of our patent risk management services. This new
structure also enhances our ability to pursue new initiatives and
deliver an expanding number of services."
Mr. Straube joined RPX in 2013 and has been responsible for
relationships across a variety of industries, including automotive
and financial services. Prior to RPX, Mr. Straube was engaged by
Alcatel-Lucent to work with the firm's venture portfolio, as well
as to help evaluate and implement strategic options for the
company's patent portfolio.
"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," Mr.
Roberts said.
Mr. Straube began his career in investment banking at Salomon
Brothers and went on to hold senior positions at various firms
including UBS. He holds an SM in Finance from the Sloan School of Management at MIT and a BA in
Economics from the University of California at
Santa Cruz.
As part of the reorganization, Neal
Rubin, Senior Vice President, will take an expanded role as
head of operations for the Company, managing the data analysis and
intelligence services operations, among other things. Andy Block, Senior Vice President, will lead the
continuing development of several RPX initiatives intended to drive
growth in the Company's patent-related services offering. Messrs.
Rubin and Block, industry veterans, joined RPX in February 2017 from Cisco and Time Warner Cable
respectively.
"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
Mr. Roberts.
Fourth Quarter Outlook
Separately, the Company reaffirmed the fourth quarter revenue
guidance it provided on October 30,
2017. Revenues for the three months ending December 31, 2017 are expected to be between
$77 million and $82 million.
Forward-Looking Statements
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 SEC. The Company
does not intend, and undertakes no duty, to update any
forward-looking statements to reflect future events or
circumstances.
ABOUT RPX
RPX Corporation (NASDAQ: RPXC) is the leading provider of
patent risk and discovery management solutions. Since its founding
in 2008, RPX has introduced efficiency to the patent market by
providing a rational alternative to litigation. The San
Francisco-based company's pioneering approach combines principal
capital, deep patent expertise, and client contributions to
generate enhanced patent buying power. By acquiring patents and
patent rights, RPX helps to mitigate and manage patent risk for its
growing client network.
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.
Media Contact:
Jen Costa
RPX Corporation
+1.415.852.3180
media@rpxcorp.com
Investor Relations Contact:
JoAnn Horne
Market Street Partners
+1.415.445.3233
ir@rpxcorp.com
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SOURCE RPX Corporation