Tag Archives: Intellectual Property

Thomson Reuters to sell its Intellectual Property & Science Business to Onex and Baring Asia for $3.55 billion


New York: Thomson Reuters today announced that it has entered into a definitive agreement to sell its Intellectual Property & Science business to private equity funds affiliated with Onex Corporation (“Onex”) and Baring Private Equity Asia (“Baring Asia”) for $3.55 billion in cash.

The sale is subject to regulatory approval and customary closing conditions, including the expiration or termination of applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in the next few months. The sale is not subject to any financing condition. Onex and Baring Asia have obtained debt and equity commitments for the transaction.The Intellectual Property & Science business provides comprehensive intellectual property and scientific information, decision support tools and services that enable the lifecycle of innovation for governments, academia, publishers and corporations to discover, protect and commercialize new ideas and brands. Its portfolio includes Web of Science, Thomson CompuMark, Thomson Innovation, MarkMonitor, Thomson Reuters Cortellis and Thomson IP Manager.

“We are pleased to announce the agreement today to sell our Intellectual Property & Science business to Onex and Baring Asia,” said Jim Smith, president and chief executive officer of Thomson Reuters.

“With the completion of this divestiture, Thomson Reuters will be even more focused on operating at the intersection of global commerce and regulation.”

“Intellectual Property & Science is a diversified portfolio of high-quality, well-positioned businesses providing proprietary, curated content through products and services that are entrenched in their customers’ day-to-day activities,” said Kosty Gilis, a Managing Director with Onex. “We are delighted to have the opportunity to acquire the company and partner with management and Baring Asia to enhance Intellectual Property & Science’s operations and support its growth in the years to come.”

“We look forward to partnering with Intellectual Property & Science management and Onex to support the development of the company globally, particularly in Asia where we see a differentiated growth opportunity,” said Jean Eric Salata, Founder and Chief Executive of Baring Asia. “Already an established leader in China and across the region, we believe the outlook for the business is underpinned by an increasing shift towards more knowledge driven economies and a continued emphasis on research and development.”Thomson Reuters expects to use about $1 billion of the net proceeds to buy back shares and the balance to pay down debt (primarily commercial paper) and reinvest in the business. Any share buybacks will be part of the previously announced $1.5 billion share buyback program.

Guggenheim Securities, LLC and J.P. Morgan Securities LLC are acting as financial advisors to Thomson Reuters for the proposed divestiture. Allen & Overy LLP is acting as legal counsel for Thomson Reuters.

Thomson Reuters is the world’s leading source of news and information for professional markets. Its customers rely on it to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI).

Australia prepares to celebrate ‘Engineers Australia’

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Australia Engineers awardsMelbourne, Australia : With an objective of recognizing the contribution that engineers make to Australia, Australia is gearing up to celebrate Engineers Australia on the 6th of November. Engineers Australia will celebrate the benefits that arise out of work contribution and dedication of engineers in Australia, with special focus on the positive impact that they make to Australian community through their innovation, teamwork, ingenuity and creativity. This event will be presented in the form of 2015 NSW Engineers Australia Showcase Dinner.

The 2015 NSW Showcase Dinner is the State’s largest event of the year aimed at bringing together the engineering community. This year, Australia has planned to feature the announcement of the 2015 NSW Engineers Awards and the 2015 NSW Bradfield Award, as well as launch the 2016 NSW Engineering Excellence Awards. The Showcase Dinner night will celebrate the best of the best and their outstanding engineering achievements.

Deputy Director General, Fatima Beattie would give away the award for ‘Engineering Student of the Year’ on behalf of IP Australia. The event night would also incorporate the Sydney Engineering Excellence Awards (SEEA 2015), which happens to be the preeminent program that recognizes the contribution which engineers make to the Australian community. The Showcase Dinner event would present a great opportunity to showcase what the industry and Engineers Australia have accomplished till date, specifically in the year.

Engineers Australia is the national forum for the advancement of engineering and the professional development of its members. With more than 100 000 members embracing all disciplines of the engineering team, Engineers Australia is the largest and most diverse professional body for engineers in Australia. Engineers Australia has been used as a platform to share intellectual property (IP) information to the members and help them understand IP issues that affect the engineering industry as a whole.

July promotes IP Awareness in Australia

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australian govtAustralia : GovHack 2015 organized during the initial week of  July this year is an annual competition that brings together geeks, digital creatives, data analysts, story tellers, entrepreneurs and civic society enthusiasts to work together. These participants work in teams for over 46 hours and explore, mash up, ideate and communicate their concepts on IP System using open Government data.

GovHack  celebrates participant’s technical and creative capacity. It throws open an opportunity and enables collaboration with governments in working towards advancing the cause of open data to drive social and economic value.

This year IP Australia was a National Agency Supporter for the first time. The participants, addressed as GovHackers were asked to develop an easy way for non-experts to access and use the Australian IP Government Data. Their task was to find out where,what and with whom does the Intellectual Property (IP) reside in  Australia.

Representatives from IP Australia attended the event and walked around the venue talking to the hackers, asking them what they were doing and seeing if they could integrate IP data in some fruitful way.

Now in its 5th Year, GovHack has grown from a small data mashup event in 2009 to a huge international competition that brings over 1800 people together to innovate, collaborate and apply their creative skills to open government data.