Xenith IP to acquire Griffith Hack

Company News

by Jessica Ellerm


Xenith IP Group Limited (ASX:XIP) has announced it will acquire Griffith Hack, an Australian specialist IP firm, for $152 million.

Griffith Hack is one the largest privately owned IP firms in Australia with over 110 years of history.

Xenith has indicated the acquisition will see it benefit from a range of strategic and financial opportunities as well as diversify and enlarge its client profile and scope of service offering.

The acquisition will be partly funded by a $68 million capital raising.

Xenith IP Group Limited reported a net profit of $6.5 million at 30 June 2016.

 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.