SYDNEY: IPH Limited announced that AJ Park has reached an agreement to acquire the New Zealand intellectual property firm Baldwins Intellectual Property.
The transaction will be effected by IPH’s subsidiary, AJ Park IP, acquiring the patent attorney business of Baldwins and the benefit of Baldwins’ legal business through the acquisition of that legal business by AJ Park IP’s allied law firm, AJ Park Law.
The transaction is subject to a number of conditions including clearance of the proposed acquisition by the New Zealand Commerce Commission.
Established in 1896, Baldwins is a well-known New Zealand IP firm, with 4 partners and other high quality IP professional staff working from Auckland and Wellington offices. Clients include large multi-national corporations, universities, government agencies, start-ups and individual inventors.
The total purchase consideration for the acquisition is approximately NZ$7.9m (approximately AU$7.4m) including deferred consideration of NZ$0.4m (approximately AU$0.4m).
Commenting on the acquisition AJ Park’s Managing Director, Dr Andrea Dickens said, “Baldwins is a highly regarded firm in the New Zealand market and we believe this acquisition will give our merged businesses greater depth and provide our clients with access to a complementary team of experienced IP professionals. We look forward to welcoming the Baldwins partners and staff to Al Park”.