Intellectual property services provider IPH Limited (ASX:IPH)
adds online automated trademark platform Applied Marks for $5 million, with a further $2.1 million subject performance benchmarks.
Applied Marks is an online automated trade mark application platform providing automated registration and intelligence services relating to companies and domain names, both directly to customers and through channel partners.
Under the spend, IPH will buy Applied Marks as it is with operations to continue as per usual as they expect to grow their presence into other jurisdictions.
The resources and technology acquired as part of the transaction will also contribute to a new digital services function within the $1.7 billion company.
IPH CEO, Dr Andrew Blattman said “the acquisition of Applied Marks accelerates our digital capability while allowing us to address an expanded market.
It bolsters our ability to participate in the online automated IP services space, and will support us to evolve our traditional trademark offering in line with the changing market.
“Over time we expect to harness this digital expertise in related areas of IP and use those tools to support a more seamless interaction amongst providers, clients and regulatory authorities to generate further efficiencies for our teams and our clients across the regions in which we operate,” he said.
The settlement is due complete today.
Shares in IPH Limited (ASX:IPH)
are trading 2.7 per cent higher at $8.01.