IPH Limited
(ASX:IPH), the holding company of Spruson & Ferguson, an IP firm, has acquired Cullens Patent and Trade Mark Attorneys.
Cullens, aIso an IP firm, is based in Brisbane, while Spruson & Ferguson operates in a number of countries including Australia, New Zealand, Indonesia and Singapore.
The company says the purchase price was $35.6 million, with additional earn-out payment potentially capped at $7.1 million.
IPH’s managing director, David Griffith, says that Cullens is well-managed, profitable, and will continue to service its clients under the “Cullens” brand.
IPH reported a net profit of $18.5 million at 31 December 2015.
