Clarivate Acquires Hanlim IPS

Rhea-AI Summary

Clarivate Plc (NYSE:CCC) has announced its acquisition of South Korean Hanlim IPS Co., enhancing its intellectual property solutions and innovation capabilities. The collaboration will cater to the growing demand for PCT filings in South Korea, which rose by 12.8% from 2018 to 2019. This strategic move aims to provide a comprehensive suite of IP solutions and local customer support tailored for the APAC market. Leadership from both companies expressed confidence that this merger will accelerate innovation and broaden market reach.

Positive

• Acquisition strengthens Clarivate's IP solutions in South Korea.
• Positioned to capitalize on a 12.8% growth in PCT filings in South Korea.
• Expands local support and expertise for APAC customers.

Negative

• None.

Combining strengths to accelerate innovation in South Korea by offering a more comprehensive range of IP information and insights solutions

LONDON, Nov. 30, 2020 /PRNewswire/ -- Clarivate Plc (NYSE:CCC), a global leader in providing trusted information and insights to accelerate the pace of innovation, today announced that it has acquired South Korean Hanlim IPS Co., LTC (Hanlim IPS).

By combining strengths, Clarivate and Hanlim IPS will be able to provide a more comprehensive suite of intellectual property solutions to customers in South Korea and worldwide, covering the entire innovation and IP lifecycle – from scientific and academic research to IP portfolio management and protection.

Currently, South Korea is showing the steepest growth globally of PCT filings with an increase of 12.8% from 2018 to 2019 as stated by WIPO¹. By joining forces with Hanlim IPS, Clarivate is strategically positioned to address this rapid growth in South Korea and for customers in other jurisdictions looking to file in South Korea. Together Clarivate can offer a wider range of local products and services to directly serve the APAC market, including local customer support, local language search expertise and better understanding of local requirements to influence the overall product strategy.

Jeff Roy, President, IP Group Clarivate, said: "Combining market leading solutions and global footprint of Clarivate with deep understanding of local customers, leading South Korean capabilities and excellent talent from Hanlim IPS means we can better support customers to significantly accelerate innovation both in South Korea and worldwide. Asia is an important hub for innovation, and by joining forces with Hanlim IPS we are better positioned on our mission to be a trusted, indispensable partner to innovators worldwide."

Mr. Lim, Founder and CEO, Hamlin IPS said: "Hamlin and Clarivate have a similar vision for the industry. Joining Clarivate means we can provide our South Korean customers with access to a much wider range of global and local resources. It also means we can further broaden our international vision."

¹ https://www.wipo.int/pressroom/en/articles/2020/article_0005.html

About Clarivate
Clarivate™ is a global leader in providing solutions to accelerate the lifecycle of innovation. Our bold mission is to help customers solve some of the world's most complex problems by providing actionable information and insights that reduce the time from new ideas to life-changing inventions in the areas of science and intellectual property. We help customers discover, protect and commercialize their inventions using our trusted subscription and technology-based solutions coupled with deep domain expertise. For more information, please visit clarivate.com.

About Hamlin IPS
Hanlim IPS was founded in 1996, by CEO and founder, Lim, Dong-Choonas. Hanlim provides first class patent research and consulting service to clients all over the world in four languages: Korean, English, Chinese, and Japanese. From initial research to maintenance, Hanlim IPS partners with some of the most innovative customers in the world including some divisions of Samsung.   

Media contact

Jack Wan
Director of Communications, APAC
media.enquiries@clarivate.com

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SOURCE Clarivate Plc

FAQ

What was the purpose of Clarivate's acquisition of Hanlim IPS?

The acquisition aims to enhance Clarivate's intellectual property solutions and accelerate innovation in South Korea and globally.

When was the acquisition of Hanlim IPS announced?

The acquisition was announced on November 30, 2020.

How will the acquisition impact Clarivate's services in South Korea?

It will provide a more comprehensive suite of IP solutions, including local support and expertise.

What is the significance of the growth in PCT filings in South Korea?

The 12.8% growth in PCT filings indicates increasing innovation activity, which the acquisition aims to support.

What benefits does Clarivate expect from the merger with Hanlim IPS?

Clarivate expects to better serve customers and enhance its market reach in the APAC region.