On December 15, 2023, IPH Limited completed the acquisition of ROBIC, L.L.P. for total purchase consideration of approximately $110.5 million, comprising an upfront cash consideration of approximately $68.3 million, the initial issue of new IPH shares to a value of approximately $36.8 million escrowed for two years and deferred earn-out consideration of up to $5.5 million to be paid as a mix of cash and shares.
IPH is an international intellectual property services group, with a network of member firms working in ten IP 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 1,400 people working in Australia, Canada, China, Hong Kong SAR, Indonesia, Malaysia, New Zealand, Philippines, Singapore and Thailand.
Established in 1892, ROBIC is one of Canada’s leading IP firms and the largest in Quebec, with a team of more than 220 staff located in offices in Montreal and Quebec City. IPH acquired a new Quebec limited partnership that will conduct the IP agency practice of ROBIC and will own an interest in a new Quebec limited liability partnership formed by former ROBIC partners that acquired the legal practice of ROBIC, in compliance with Quebec regulation. Both the IP agency and law firm will continue to operate under the ROBIC brand.
Cassels acted for IPH Limited.