IP Group is hoping to raise $260m as the firm reveals it has made a takeover bid for Touchstone Innovations and will establish a new subsidiary in Australia.
UK-based commercialisation firm IP Group, winner of the GUV Award 2017 for Investment Unit of the Year, announced on Tuesday that it had approached the board of its peer Touchstone Innovations with an acquisition offer that valued the latter firm at approximately £500m ($650m).
Touchstone Innovations focuses on spinouts located in the golden triangle of London, Cambridge and Oxford. It also, through its Imperial Innovations unit, acts as the technology transfer office of Imperial College London.
Touchstone’s board rejected…
