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Increases presence in European patent renewals market; enhances IP software offering to clients
HONG KONG, Feb. 19, 2014 /PRNewswire/ -- 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.
The acquisition includes:
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 recognise 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."
