IPH (ASX:IPH) welcomes the announcement by the New Zealand Commerce Commission today that it will grant clearance for the proposed acquisition by IPH’s subsidiary, AJ Park, of the business of New Zealand intellectual property firm, Baldwins Intellectual Property.
AJ Park reached an agreement to acquire Baldwins on 10 June 2020.
The transaction is expected to complete in mid-October 2020.
Established in 1896, Baldwins is a well-known New Zealand IP firm, with four 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 (ASX:IPH) are trading 1.59 per cent higher at $7.03.