Innovation management software developer Wellspring and tech transfer consultancy IP Pragmatics had been partners for years before this week’s merger.
Wellspring, a US-based innovation management software producer, announced its acquisition of IP Pragmatics, a UK-based tech transfer consultancy, for an undisclosed amount yesterday.
The two firms have collaborated for years: Carnegie Mellon University spinout Wellspring, IP Pragmatics and patent renewals services provider IPRIS signed a formal partnership agreement in 2018.
Wellspring’s purchase of IP Pragmatics follows a “significant” investment into the former by private equity firm Resurgens Technology Partners last summer.
The two companies hope the merger will bring an end-to-end offering to clients, from back-office support and strategic advisory services to licensing support, government reporting and intellectual property assessment.
IP Pragmatics will be integrated into Wellspring Europe, the company’s UK-based subsidiary, where Rupert Osborn, founder and chief executive of IP Pragmatics, will act as managing director.
Osborn said: “We’re excited to become part of the Wellspring family. As partners, our two firms have developed a high degree of familiarity and bidirectional trust. Now, we can take our formidable synergies to the next level.”
Robert Lowe, chief executive of Wellspring, added: “In the past year alone, we’ve scaled our professional services team considerably while rapidly expanding our roster of value-added services clients.
“Joining forces with IP Pragmatics enables us to efficiently build this fast-growing segment of our business and realise our vision to provide holistic support services for our clients in the technology transfer industry.”
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
