On September 29, 2023, IPH Limited and Smart & Biggar acquired Ridout & Maybee LLP for total purchase consideration of approximately $65 million, comprising of an upfront cash consideration of approximately $46 million and the initial issue of new IPH shares to a value of approximately $20 million escrowed for two years.
IPH is an international intellectual property services group, comprising a network of member firms working in ten jurisdictions and servicing more than 25 countries. The group includes leading IP firms Smart & Biggar, AJ Park, Griffith Hack, Pizzeys, Spruson & Ferguson, and online IP services provider Applied Marks. IPH employs more than 1,300 people working in Australia, Canada, China, Hong Kong SAR, Indonesia, Malaysia, New Zealand, Philippines, Singapore, and Thailand. Established in 1893, Ridout & Maybee is a full-service IP firm, with offices in Toronto, Ottawa, and Burlington. Ridout & Maybee partners will join Smart & Biggar as Principals and will generally enter into four-year minimum term employment agreements as a part of the transaction.
Cassels is acted for IPH Limited and Smart & Biggar.