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.”