IPH Limited to Acquire Bereskin & Parr, consolidating Canadian IP Market

IPH Limited (ASX: IPH) has agreed to acquire Canadian IP services firm Bereskin & Parr for CAD 82.5 million. The acquisition will bring together two leading Canadian IP firms, Bereskin & Parr and Smart & Biggar, to operate under the Smart & Biggar brand. Bereskin & Parr, established in 1965, has over 70 IP professionals across four offices in Canada and filed over 2,800 patents in 2023 for clients, including multinational corporations, universities, and startups. The transaction is consistent with IPH's strategy to pursue growth opportunities in secondary IP markets, following recent acquisitions of Smart & Biggar, Ridout & Maybee, and ROBIC.

IPH will fund the acquisition through an AU$100 million equity raising, with pro forma leverage of approximately 1.7 times as of June 2024. The deal is expected to be low single-digit underlying EPS accretive on a pro-forma FY24 basis with total run-rate synergies.

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