IPH Limited (IPH) has accelerated its digital enablement strategy and strengthened its position in the local Australian trade marks services market with the acquisition of Applied Marks Pty Ltd.
Applied Marks is a leading Australian online automated trade mark application platform, also providing automated registration and intelligence services relating to companies and domain names, both directly to customers and through channel partners.
Founded in 2008, Applied Marks is the number 4 filer in the Australian trade mark market representing approximately 4.5-5.0 per cent of the market', with a focus on the retail market.
Under the transaction IPH will acquire Applied Marks which will continue to operate its existing platforms, whilst it is also expected to extend into other jurisdictions. The resources and technology acquired as part of the transaction will also contribute to a new Digital Services function within the IPH Group.
IPH CEO, Dr Andrew Blattman, said: "... Over time we expect to harness this digital expertise in related areas of IP and use those tools to support a more seamless interaction amongst providers, clients and regulatory authorities to generate further efficiencies for our teams and our clients across the regions in which we operate."
Ben Lehman, one of the co-founders of Applied Marks and new Head of Digital Services for IPH said: 'We are delighted to join the IPH Group. We have recognised the strength and scope of the IPH Group network and the Company's success in integrating new businesses. We look forward to being part of the leading IP services group in the region..."
IPH will pay an upfront cash consideration of $5m. In addition, consideration of up to a further $2.1m will be payable two years after transaction completion in the form of IPH shares, escrowed for a period of two years, subject to achievement of a . umber of minimum performance requirements. An Appendix 3B for the proposed issue of nares will be announced separately.
The contribution to Group EBITDA in FY22 is not expected to be material. " the transaction will complete today.