LexisNexis® Intellectual Property Solutions, part of RELX, announces that it has entered into a definitive agreement to acquire Aistemos Limited, a patent classification company, which trades under the Cipher brand.
Cipher uses artificial intelligence and supervised machine learning to classify patents, helping customers uncover insights into complex landscapes of patented technologies to support their strategic IP decisions. Cipher's classifiers are built from proprietary machine learning algorithms that map patents to technologies using custom and industry standard taxonomies.
"The combination of Cipher and LexisNexis will significantly enhance IP analytics," says Andrew Matuch, President of LexisNexis Intellectual Property Solutions. "Marrying the bespoke Cipher classifiers with our PatentSight analytics platform will allow our customers to view the world through their own technology lens, ultimately giving them a competitive advantage."
After the acquisition, Cipher will become part of LexisNexis® PatentSight®, the LexisNexis flagship IP analytics solution. With the addition of the Cipher classification capabilities, PatentSight customers will not only be able to build custom technology taxonomies based on how they view the world but also make those custom classifiers available across their entire IP department, providing a consistent understanding of the world's technologies.
"I'm delighted by the idea of joining the LexisNexis team on this journey to shape IP intelligence," said Nigel Swycher, CEO and one of the original Cipher founders. "This partnership will unlock potential, accelerating our goal to unleash the strategic value of patents for our customers and bringing Cipher to the global innovation community."
The addition of Cipher represents a further extension of LexisNexis Intellectual Property Solutions' vision to bring clarity to innovation and help companies globally bring important innovations into the world.
The transaction is subject to customary regulatory approvals and is expected to be completed during the first quarter of 2023. Financial details are not disclosed.Follow the link to learn more about LexisNexis Intellectual Property Solutions.
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