iCrowd Newswire – Jun 18, 2020
Acquisition strengthens law firm product line with PATTSY WAVE® solution
BOSTON, June 18, 2020 – Anaqua, the leading provider of innovation and intellectual property management solutions, today announced that it has acquired IP management software and practice automation provider O P Solutions. The transaction will accelerate Anaqua’s law firm growth strategy and support the company’s commitment to delivering IP solutions that address the diversified and evolving needs of today’s IP management market.
To that end, O P Solutions’ flagship product PATTSY WAVE® will join ANAQUA for Law Firms as a second distinct brand to help address the varying needs and requirements of the IP law firm market. Anaqua will continue to invest in both solutions globally and offer its expanded suite of services, including patent annuity and trademark renewal payments, to the O P Solutions client base.
“Both companies share a deep commitment to providing our client communities and the broader market with best-in-class software solutions,” said Bob Romeo, CEO of Anaqua. “With deep roots in the IP practice management segment, O P Solutions will strengthen Anaqua’s law firm domain expertise and provide a strong catalyst for future success in this market.”
With the acquisition, Spencer Siskind will be stepping down from his current role as O P Solutions CEO, while the rest of the team will join the Anaqua business under Romeo’s leadership.
“The combination of the two companies will serve to address the growing demand for increased efficiency in IP practice automation,” said Siskind. “Since my initial interactions with the Anaqua team, I have been impressed with the company’s success both globally and within the corporate market, and believe our core competencies complement each other well.”
Marks Baughan Securities LLC served as exclusive financial advisor to O P Solutions in this transaction and Latham & Watkins LLP served as legal counsel to Anaqua.
Anaqua is a premium provider of integrated, end-to-end innovation and intellectual property (IP) management solutions, serving more than 50% of the top 25 U.S. patent filers, more than 50% of the top 25 global brands, and a growing number of the most prestigious, forward-looking law firms. The company’s global operations are headquartered in Boston, with offices across Europe and Asia. Anaqua’s IP platform is used by nearly one million IP executives, attorneys, paralegals, administrators, and innovators globally. Its solution suite merges best practice workflows with big data analytics and tech-enabled services to create one intelligent environment designed to inform IP strategy, enable IP decision-making, and streamline IP operations. For additional information, please visit anaqua.com.
About O P Solutions
O P Solutions has been a leading provider of high-quality software to the intellectual property legal community since 1990. O P Solutions is among a very small group of providers that have prevailed for three decades in an industry defined by change. Its market share, which is among the highest in the industry, can be attributed to the quality and reliability of its product, the responsiveness of the company’s support staff and in-depth understanding of the IP landscape.
PATTSY ® (Patent and Trademark Tracking System) is used by hundreds of organizations around the globe including some of the largest patent and trademark filers in the world. PATTSY WAVE ® is O P Solutions’ state-of-the-art browser-based docketing software.
PR Manager, Anaqua
Keywords: Law, Law Firm, Law Firms, Intellectual Property, Technology, Legal Technology, IP, IP Management, Software, Acquisition, M&A, IP Practice Management, Legal, Legal Tech, Mergers and acquisitions, M&A