Wellspring, a leader in software solutions for R&D and Innovation Management, today (1/2/2023) announced the acquisition of IP Pragmatics, a leading consulting and services companies for Tech Transfer and Intellectual Property Management. By integrating their respective offerings, the combined company will now offer comprehensive solutions to 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 commands 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.”
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' 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.
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.