IPH Limited completed the acquisition of Smart & Biggar

IPH Limited (ASX: IPH) announced that it had completed the purchase of Smart & Biggar, as previously announced on 18 August 2022, for a total purchase consideration of CAD282 million (AU$320.4 million).

The total purchase consideration is funded by the issue of 5,317,980 new IPH's shares to the vendors at an issue price of AU$8.51 per share and cash payments of approx. AU$273.9 million, which is funded by company's debt facilities and cash reserves. The acquisition of Smart & Biggar will help to increase the company's international secondary markets network for the first time beyond the Asia Pacific region, which is in line with its vision to be the prominent IP services group in secondary IP markets and provides a platform for IPH to join in additional growth opportunities.

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