IPH Limited (ASX:IPH) reports that subsidiary AJ Park has reached an agreement to acquire the New Zealand intellectual property firm Baldwins Intellectual Property.
The total purchase consideration for the acquisition is approximately $7.4 million.
Established in 1896, Baldwins is a well-known New Zealand IP firm, with 4 partners and other high quality IP professional staff working from Auckland and Wellington offices.
Clients include large multi-national corporations, universities, government agencies, start-ups and individual inventors.
Shares in IPH Limited (ASX:IPH) are trading 4.83 per cent higher at $7.60.