Acquisition will enhance both AQX and PATTSY WAVE as IP practice management platforms for law firms by adding fully integrated IP time and billing capabilities
BOSTON, June 22, 2022 (GLOBE NEWSWIRE) — Anaqua, the leading global innovation and intellectual property (IP) management technology provider, today announced that it has entered into a definitive agreement to acquire Practice Insight Pty Ltd, and its intelligent time capture software WiseTime, from IPH Limited.
In leveraging Practice Insight’s technology for integrated IP time and billing functionality, Anaqua continues its investment in both AQX® Law Firm and PATTSY WAVE® as end-to-end IP practice management solutions, while adding WiseTime, Practice Insight’s flagship autonomous time capture tool to its suite of standalone offerings.
“This acquisition underscores our steadfast commitment to meeting the evolving needs of the law firm market,” said Bob Romeo, CEO of Anaqua. “We have listened very carefully to practitioner feedback across the globe, and it is clear that law firms are seeking IP management solutions that offer advanced reporting and analytics, integrated document management, secure cloud hosting, collaborative client portals, intuitive user experience – and integrated time and billing. With the acquisition of Practice Insight, we will now have all of these features fully integrated into both AQX Law Firm and PATTSY WAVE.”
The Practice Insight team, led by co-founder and current CEO Thomas Haines, will maintain its footprint in Perth, Australia, joining Anaqua’s global R&D organization.
“Our companies share a deep passion for leveraging technology to drive efficiency within IP operations,” said Haines, a former practicing patent attorney, who will join Anaqua as Vice President and continue to lead the Practice Insight team. “We have quickly developed a strong rapport with the Anaqua team and look forward to joining the organization, as we execute against our shared vision for an end-to-end IPMS for law firms.”
“WiseTime’s service offering strongly aligns with Anaqua’s suite of IP management software and will provide the team growth opportunities,” said Andrew Blattman, IPH CEO and Managing Director. “We wish the team every future success as part of Anaqua.”
The transaction is conditional on regulatory approvals and other usual conditions and is expected to complete early in the third quarter.
Anaqua, Inc. is a premium provider of integrated intellectual property (IP) management technology solutions and services for corporations and law firms. Its IP management software solutions, AQX and PATTSY WAVE, both offer best practice workflows with big data analytics and tech-enabled services to create an intelligent environment designed to inform IP strategy, enable IP decision-making, and streamline IP operations, tailored to each segment’s need. Today, nearly half of the top 100 U.S. patent filers and global brands, as well as a growing number of law firms worldwide use Anaqua’s solutions. Over one million IP executives, attorneys, paralegals, administrators, and innovators use the platform for their IP management needs. The company’s global operations are headquartered in Boston, with offices across the U.S., Europe, and Asia. For additional information, please visit anaqua.com, or on LinkedIn.
About WiseTime (also known as Practice Insight)
As a member of IPH, WiseTime (also known as Practice Insight) has been at the forefront of developing IP business intelligence software, including its flagship offering WiseTime, a seamless and automated timekeeping solution. For more information, please visit wisetime.com, or on LinkedIn.
About IPH Limited
IPH is the Asia Pacific’s leading intellectual property services group, comprising a network of member firms working in eight IP jurisdictions and servicing more than 25 countries. The group includes leading IP firms AJ Park, Applied Marks, Griffith Hack, Pizzeys and Spruson & Ferguson, and the autonomous timekeeping business, WiseTime, and employs more than 900 people working in Australia, China, Hong Kong SAR, Indonesia, Malaysia, New Zealand, Singapore and Thailand. For more information, visit IPH Limited, or on LinkedIn.