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SOURCE CPA Global
ALEXANDRIA, Virginia, January 22, 2014 /PRNewswire/ --
Increases presence in European patent renewals market; enhances IP software offering to clients
CPA Global, one of the world's top intellectual property (IP) management and software specialists, today announced the acquisition of leading Nordic IP services provider Patrafee AB ("Patrafee"), along with related businesses and IP services products, for an undisclosed amount.
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The acquisition includes:
- Patrafee's patent renewals business, including long-term contracts with the Nordic IP law firms who were previously Patrafee's shareholders
- Patrawin, Patrafee's IP management software product
- Patrafee UK, previously a joint-venture between Patrafee and IP Pragmatics, providing IP services in the UK
- IP Forecaster, the IP cost forecasting product, exclusively sold by Patrafee.
The acquisition strengthens CPA Global's presence in the Nordic region, particularly in the SME (small and medium size enterprises) patent renewals market, and follows the acquisition of IP management software and service provider Ipendo in Sweden in 2011. Patrafee's Nordic-based operations will continue to operate as currently, with additional support from CPA Global in terms of industry expertise, global reach and new service and product offerings. Patrafee UK will be integrated into CPA Global's existing UK operations.
Patrafee was established in Sweden in 1978 and, upon acquisition, was a partnership of 20 Nordic IP law firms. Patrafee has entered into long-term service agreements with its former shareholders, whereby Patrafee will continue to manage the patent renewal requirements of their clients. The law firms will now also be able to offer their clients the broader suite of IP services and products offered by CPA Global.
Patrawin, Patrafee's IP management software product, will continue to be an important part of Patrafee's offering. As part of the transaction, CPA Global has also acquired IP Forecaster, the market-leading online software product that enables clients to forecast patent costs and timings instantly and accurately. This will be integrated into other CPA Global IP management software solutions, where this will enhance the offering for clients. Similar to First To File, the electronic document management system acquired by CPA Global in 2013, the addition of IP Forecaster to the product portfolio demonstrates CPA Global's ongoing commitment to providing a comprehensive range of software solutions to clients.
CPA Global Chief Executive Officer Peter Sewell said: "We are delighted to be acquiring Patrafee, a market-leading Nordic business, which has provided IP services to clients for over 30 years. CPA Global is increasingly committed to the Nordic region, and we recognize the importance to clients of having a local, client-focused IP services partner. We are excited to be working together with the Patrafee team and supporting them in delivering world-class IP services in the region.
"We are also pleased to welcome Patrafee's former shareholders as long-term clients of the business and look forward to helping them meet the IP needs of their clients. This special business partnership mirrors the valuable relationship CPA Global has with our own former IP law firm shareholders."
Mats Polkander, Chief Executive Officer of Patrafee, commented: "This is an exciting time for Patrafee and our clients. By combining our business with CPA Global, we will continue to deliver the same quality of local service support that our clients have come to expect, while also providing them with access to CPA Global's extensive international network and its broad portfolio of value-added IP services and products."
About CPA Global
CPA Global is one of the world's leading intellectual property (IP) management and IP software specialists, and an international provider of outsourced legal services. With offices across Europe, the United States and Asia Pacific, CPA Global supports many of the world's best known corporations and law firms with a range of IP and broader legal services, helping them to manage risk, cost and capacity, and realize greater value for their businesses and IP assets.
CPA Global helps corporates and law firms in managing valuable IP Rights, such as patents, designs and trademarks, ensuring that IP portfolios are protected, maintained and regularly reviewed in order to maximize value. Working closely with its clients, CPA Global ensures they have the best information on which to base IP decisions, and the best support in terms of helping implement those decisions.
Services include patent portfolio optimization; patent research and analytics; patent and trademark renewals; as well as other IP support services such as docketing, trademark watching and domains management. In IP software, CPA Global offers four market-leading IP management software solutions (FoundationIP, Inprotech, Ipendo, and Memotech) tailored towards different types of clients and their specific needs; First To File, the market-leading electronic document management system for IP; as well as Discover, one of the world's most advanced patent search platforms.
CPA Global is also a leading player in the outsourced legal services sector, providing high quality and cost-efficient legal support services such as transaction support, contract management, anti-bribery and compliance, and legal research through delivery centers in the US and India.
Founded in Jersey, Channel Islands in 1969, CPA Global today employs more than 1,700 people, serving clients' needs in 200 jurisdictions through its own offices and an extensive agent network. CPA Global's diverse client list ranges from major global corporations, headquartered in Europe, North America and Asia Pacific, to small and medium-sized
enterprises and innovation start-ups; and from top international law firms to national and regional law and IP firms. For further information, please visit: http://www.cpaglobal.com.
Patrafee is an intellectual property (IP) services and software company. It offers services and software solutions for the management of IP Rights to law firms and IP Rights holders worldwide. Patrafee has more than 30 years' experience of IP management as a market leader in the Nordic countries.
The service range includes patent annuity services, trademark renewals and domain name services. Patrafee markets and develops three software systems: Patrawin Professional and Patrawin Enterprise, which are IP management software solutions for law firms and corporations, respectively: as well as IP budgeting software IP Forecaster.
Founded in Stockholm, Sweden in 1978 by a group of Nordic IP law firms, Patrafee currently employs 30 people. For further information, please visit: http://www.patrafee.com
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