25 November 2016
Griffith Hack is pleased to announce it has entered an agreement with Xenith IP Group that will see Xenith acquire Griffith Hack.
The transaction will enable Griffith Hack to accelerate its plans for growth and deliver on its vision to provide the most valuable intellectual property service offering to clients in Australia and overseas.
Xenith, which is listed on the Australian Securities Exchange, is the umbrella company for Australian IP firms Shelston IP and Watermark.
Its announcement to the ASX about the transaction can be found here.
The transaction has been negotiated over a number of months and will deliver benefits for both companies. For Griffith Hack, joining with Xenith will give the firm access to capital markets to invest in expansion into Asia and development of innovative service offerings such as our recently released trademark filing platform Amplia. For Xenith, it gains a national footprint that we have created.
Both companies also share a strong cultural alignment, sharing a like-minded approach to service excellence and providing clients with the most comprehensive set of IP related services in the industry.
Joining with Xenith means that Griffith Hack becomes part of a company with a greater market share, re-establishing it as either number one or two on a number of metrics.
Each of the client facing brands – Griffith Hack, Shelston and Watermark – will continue to operate while maintaining strict client confidentiality and conflict management practices.
The transaction will see the creation of a new division called IP Advisory, which will take in Griffith Hack’s Consulting and IP Economics teams and will work across the three brands as well as directly to market.
All Griffith Hack employees will become part of the Xenith group, with all equity principals remaining with the firm and maintaining a degree of ownership with shares in Xenith.
Griffith Hack looks forward to the growth opportunities ahead for the merged firms.