The deal is expected to be finalised in Q3 2020
AJ Park has announced plans to acquire competitor Baldwins.
Under the newly inked agreement, Baldwins will be incorporated under the AJ Park banner. The deal is expected to be finalised by Q3 2020, subject to clearance by the New Zealand Commerce Commission and other conditions.
Both firms consider the combination to be an advantageous move, given the complementary nature of their services in the New Zealand IP market.
AJ Park managing director Dr Andrea Dickens sees an opportunity for both firms’ IP teams to work together and enhance the quality of their services to clients.
“AJ Park clients will have access to a deeper pool of IP expertise and Baldwins’ clients will benefit from access to AJ Park’s larger IP team and direct access to the Asian market through the IPH group Asia business,” Dickens said.
Baldwins chairman Wes Jones sees the deal as a step towards boosting both firms’ IP footprints not just in New Zealand, but internationally as well.
“We believe this combination will allow us to best position our business for the future, both in New Zealand and internationally,” Jones said. “As a combined firm we can provide enhanced career opportunities for our people and offer a strengthened client service capability including an enhanced international offering.”
Until the transaction is completed, AJ Park and Baldwins will continue to operate independently, AJ Park said.
Both firms currently have a presence across Australia and New Zealand.
Baldwins was advised by MinterEllisonRuddWatts on the transaction.