-preview.jpg)
AJ Park announces acquisition of Baldwins
15 June 2020
AJ Park has announced that it has reached an agreement to acquire New Zealand intellectual property firm Baldwins.
.jpg)
Under the agreement, Baldwins will join the AJ Park business and operate as one firm. The transaction remains subject to a number of conditions, including clearance by the New Zealand Commerce Commission. Time frames for clearance applications can vary, but subject to that approval and other conditions, it is expected that the transaction will complete in the third quarter of 2020.
The transaction will be effected by IPH Limited’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.
AJ Park managing director Andrea Dickens said that the proposed acquisition would provide benefits for both businesses, their people and clients.
“Baldwins is a quality IP business with a highly qualified and experienced specialist IP team,” Dickens said. “AJ Park’s clients will have access to a deeper pool of IP expertise and Baldwins’ clients will benefit from access to AJ Park’s larger IP team and direct access to the Asian market through the IPH group Asia business.”
.jpg)
Baldwins’ chairman Wes Jones said: “We believe this combination will allow us to best position our business for the future, both in New Zealand and internationally. As a combined firm we can provide enhanced career opportunities for our people and offer a strengthened client service capability including an enhanced international offering. We believe AJ Park is a good strategic fit for our business and, subject to clearance by the New Zealand Commerce Commission and completion of the transaction, we look forward to joining the firm later this year.”
The total purchase consideration for the acquisition is approximately NZ$7.9 million (US$5.08 million) including deferred consideration of NZ$400,000 (US$257,000).
