What Does It Mean?

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From our dictionary:
ac•ro•nym

(ak'ru-nim),
n.
1. a word formed from the initial letters or groups of letters of words in a set phrase or series of words, as Wac from Women's Army Corps, OPEC from Organization of Petroleum Exporting Countries, or loran from long-range navigation.
2. an acrostic.

v.t.
to make an acronym of: The committee's name has been acronymed MIKE.