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IPH Limited (ASX: IPH), the listed parent company of some of Australia's leading intellectual property firms, is making some changes to its subsidiaries to create a single cohesive brand.
The firm has announced that three of its group businesses - Australian IP firms Fisher Adams Kelly Callinans, Cullens, and Asia-Pacific IP firm Spruson & Ferguson - will combine to form one firm.
The three will operate under the Spruson & Ferguson brand from April 2018, with total integration expected to be completed by July 2018.
Once combined, the mega-firm will have the largest Australian patent market share of 16 per cent. The firm will employ more than 400 people, including 152 IP experts, and have 10 offices in the Asia-Pacific region.
IPH managing director and CEO, Andrew Blattman (pictured), says the merger will have a flow on effect for customers.
"Through this merger we expect significant benefits will flow to the business, its clients and people, with synergies in operations, access to an even greater talent base and integration with Spruson & Ferguson's Asia-Pacific service offering," says Blattman.
"This move strengthens our ability to best service the Australian market and provides a strengthened platform to support our continued growth an expansion in the Asia-Pacific region."
In a statement to the ASX, IPH says it expects the merger will provide annualised net financial benefits of between $1 million and $2 million from FY19 onwards. This is because of consolidated office spaces and streamlined administrative processes and operations.
The merger will mean the company takes a $1 million hit because of restructuring costs.
The company's other businesses, Pizzeys Patent & Trade Mark Attorneys and AJ Park will not be affected.
Shares in IPH are down 3.41 per cent to $5.24 per share at 12.59pm AEDT.
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Business News Australia
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