IPH Limited (ASX:IPH)
today announced that is has agreed to buy Practice Insight Pty Ltd and WiseTime Pty Ltd for $8 million.
The purchase will be paid half in cash and half in IPH shares which enjoyed a stellar debut on the ASX back in November. The stock opened 50 per cent higher than its listing price of $2.10 and currently trades at around $4.80.
Both of the acquired companies are specialist providers of data analysis and software applications for Intellectual Property and founded Thomas Haines will join IPH.
IPH recently reported a net profit of $13.2 million for the first half of the 2015 financial year.