CHICAGO, Feb. 02, 2023 (GLOBE NEWSWIRE) — sourcea leading global provider of software solutions for R&D and innovation management, today announced the acquisition of IP pragmatics, one of the world’s leading consulting and service companies for tech transfer and intellectual property management. By integrating their respective offerings, the combined company will now offer the most comprehensive solutions on the market, serving over 900 companies, research institutes and government agencies worldwide. This is Wellspring’s fourth acquisition in recent years and follows a significant equity investment in Wellspring Technology partner of Resurgens last summer.

Wellspring has long been the recognized software leader in tech transfer and IP management, with a 75% share of the institutions wallet in North America and a majority market share in Europe and Asia. In recent years, there has been a significant increase in demand for value-added services that complement Wellspring’s core software system.

“In the past year alone, we have significantly expanded our professional services team while rapidly expanding our roster of value-added services clients,” commented Dr. Robert Lowe, CEO of Wellspring. “Joining forces with IP Pragmatics allows us to efficiently build this fast-growing segment of our business and realize our vision of providing end-to-end support services to our clients in the technology transfer industry.”

Until now, TTO directors and IP executives have been forced to turn to a variety of software vendors and service providers. For the past several years, Wellspring and IP Pragmatics have been business partners, working together to improve the overall customer experience. The integration of the capabilities of the two companies creates the first end-to-end offering capable of providing targeted solutions for all categories of needs in this market.

The addition of IP Pragmatics’ extensive experience in IP renewals, back-office support and…