GLASGOW-based intellectual property firm Creation IP has been bought by a bigger rival amid consolidation in the sector.
Creation IP has been acquired by Murgitroyd, which has headquarters in Glasgow, for an undisclosed sum.
Murgitroyd bought Creation IP from Bryn Williams and John Collins, who founded the business jointly in 2012.
The 12 team members at Creation IP will all join Murgitroyd following the deal. This will result in headcount at Murgitroyd increasing to more than 450.
Murgitroyd chief executive Gordon Stark said Creation IP is a great fit for the group and will bring a talented team and innovative clients to the business.
Murgitroyd said Creation IP’s client list includes a broad spectrum of innovative companies, ranging from Scottish based spin-outs and start-up businesses through to US-based corporates.
It noted: “Creation IP’s specialism in attracting start-up, spin-out and scale-up businesses will ensure that the combined business stays connected with new and emerging companies with high growth potential.”
The deal is the latest in a series completed in recent months by Murgitroyd, which describes itself as a leading consolidator in the international IP sector.
In November Murgitroyd bought England-based UDL Intellectual Property. In September it acquired Ireland’s Hanna Moore + Curley.
Murgitroyd has offices across Europe. The group de-listed from the stock market in 2019, following its acquisition by London-based private equity firm Sovereign Capital Partners for £65 million.
On its website, Sovereign says it is supporting Murgitroyd to further develop its “global presence, service offering, and tech-enabled capabilities against a backdrop of increasing complexity of multi-jurisdictional IP generation and protection, and the rising trend for outsourcing these services”.