In a significant move, Clarivate has announced that it has signed a definitive agreement to combine with CPA Global. The transaction is expected to close in the fourth quarter of 2020.
CPA Global currently provides IP management and technology solutions to more than 12,000 law firm and corporate customers. In a statement, Clarivate said that joining forces with CPA will create “a true end-to-end solution that covers the entire innovation and IP lifecycle – from scientific and academic research to IP portfolio management and protection. The proposed combination of market-leading intellectual property software, data, technology and services will provide customers with seamless access to richer content and broader capabilities as they execute on their innovation and IP strategies.”
Jeff Roy, President, IP Group of Clarivate, told The Trademark Lawyer:
“We’re very excited about the opportunity in front of us to combine CPA Global and Clarivate. The result promises to create new and exciting products and services for our customers and opportunities for our colleagues. This combination is about propelling the IP industry forward and growing both businesses together. As can be expected with a transaction of this type, there may be some overlap across functions between the two companies, which we will work through together through the lens of our core values and with respect and transparency. However, fundamentally, the primary motivation for this combination is to better serve our customers and increase the impact of our combined organization globally in the future.”
“What makes us excited about this proposed deal is the opportunity to build upon the complementary strengths of the two companies. We have distinct product and service sets; CPA Global’s strengths are in IP lifecycle management, including IP management software, renewals, filing and prosecution, while Clarivate’s strengths are in IP content, patent and trademark research, and domains management. Combined, we have the potential to deliver a true end-to-end IP solution to our customers. This includes a concentrated focus on the customer experience (including a best-in-class digital workflow); creating best-of-breed solutions across an expanded software, data and tech-enabled services solution suite; and leveraging our unique content outside of our core platforms to solve a broader set of customer analytics challenges.”
Jerre Stead, Executive Chairman and CEO, Clarivate, said: “This is a transformative combination with a strong strategic fit between the two companies. It will create a full-service IP organization which will provide customers with a wide range of products and services to help them make faster and smarter critical decisions. The many strategic and financial benefits are expected to enhance our growth and drive value for shareholders. The two companies share similar core values, along with deep industry, subject matter and technical expertise, that when combined, will strengthen our ability to accelerate the pace of innovation.”
