CHICAGO, Feb. 02, 2023 (GLOBE NEWSWIRE) -- Wellspring, a global leader in software solutions for R&D and Innovation Management, today announced the acquisition of IP Pragmatics, one of the world’s leading consulting and services companies for Tech Transfer and Intellectual Property Management. By integrating their respective offerings, the combined company will now offer the most comprehensive solutions on the market, servicing over 900 companies, research institutions, and government agencies worldwide. This is Wellspring’s fourth acquisition in recent years and comes on the heels of a significant equity investment in Wellspring by Resurgens Technology Partners last summer.
Wellspring has long been the recognized software leader in the Tech Transfer and IP Management space, commanding 75% wallet share of institutions in North America and majority market share in Europe and Asia. In recent years, there has been a notable increase in the demand for value-added services that complement Wellspring’s core software system.
“In the past year alone, we’ve scaled our professional services team considerably while rapidly expanding our roster of value-added services clients,” commented Dr. Robert Lowe, Wellspring’s CEO. “Joining forces with IP Pragmatics enables us to efficiently build this fast-growing segment of our business and realize our vision to provide holistic support services for our clients in the technology transfer industry.”
Until now, TTO Directors and IP leaders have been forced to turn to a wide variety of software vendors and services providers. For the past several years, Wellspring and IP Pragmatics have operated as business partners, working together to improve the overall client experience. Integrating the two firms’ capabilities creates the first end-to-end offering capable of delivering targeted solutions across every category of need in this market.
The addition of IP Pragmatics’ extensive experience in IP renewals, back-office support, and strategic advisory work rounds out Wellspring’s growing suite of professional services to support technology commercialization on a global scale. The acquisition enables even greater integration of renewals software into Wellspring’s flagship Sophia system, supported by a global staff of professionals providing docketing, intellectual property assessment, financial management, licensing support, government reporting, and other services.
“We’re excited to become part of the Wellspring family,” added Rupert Osborn, Founder and CEO of IP Pragmatics. “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.”
Upon completion of the transaction, IP Pragmatics will become part of Wellspring Europe Ltd, the company's UK-based subsidiary, and Rupert Osborn will assume the role of Managing Director for Wellspring Europe.
About Wellspring
Wellspring is the world's leading provider of R&D and Innovation Management software and solutions for corporations, universities, and government agencies. We help clients succeed in today's innovation economy by coordinating global R&D and innovation programs – managing development portfolios, researching technology trends, finding innovation partners, identifying startups, and commercializing inventions. Wellspring works with more than 500 organizations worldwide to support the continued development of the global Knowledge Supply Chain. For more information, please visit wellspring.com.
About IP Pragmatics
For over a decade, IP Pragmatics has been among the world’s pre-eminent providers of professional services and consulting for Corporate IP and Technology Transfer communities worldwide. Our team is made up of ex-industry and IP specialists with active global networks and contacts. We also have extensive market, industry, IP, and scientific information resources to complement our analytical rigor. Our clients include universities, research institutes, SMEs, large enterprises, and public-sector organizations in over 20 countries. We are headquartered in London, with offices in Edinburgh and Sydney and partners worldwide. For more information, please visit ip-pragmatics.com.
About Resurgens Technology Partners
Resurgens Technology Partners is a tech-focused private equity firm investing in North American and select European lower middle-market application and IT/infrastructure software businesses. Resurgens’ growing team offers a diversity of investing, operating and talent management experience, applying an active and engaged value creation approach with each portfolio company. Resurgens is headquartered in Atlanta, GA, with additional professionals located in Austin, London, and Silicon Valley. For more information, please visit resurgenstech.com.
