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  • Intellectual property holding company IPH (IPH) has settled its acquisition of New Zealand-based Baldwins Intellectual Property
  • Through IPH subsidiary AJ Park, the company issued 335,016 shares at $7.305 per share and paid NZ$4.1 million (approximately A$3.8 million) in cash
  • There will also be a deferred consideration payment of up to NZ$400,000 (approximately A$370,000), which will be settled in cash
  • Moving forward, Baldwins Intellectual Property and its team will now work under the AJ Park brand
  • IPH shares are up 1.23 per cent in early trade, priced at $7.42 per share

Intellectual property holding company IPH (IPH) has settled its acquisition of Baldwins Intellectual Property.

As its name suggests, Baldwins is an intellectual property firm, based in New Zealand.

While the deal was originally meant to go through earlier — in March of this year — it was delayed by the COVID-19 pandemic lockdowns.

As part of the settlement, IPH subsidiary AJ Park issued 335,016 shares to the sellers at $7.305 per share. This segment of the acquisition settlement represents approximately $2,447,291 of the consideration in share format.

Those shares, which represent the full issue of shares related to the acquisition, have been escrowed for two years. As a result of this transaction, the total number of shares in IPH equal 216.2 million shares. 

In addition to the shares, the company made a NZ$4.1 million (approximately A$3.8 million) cash payment to the sellers of Baldwins. 

This settlement consideration, consisting of shares and cash, represents approximately 90 per cent of the total initial consideration for the acquisition. IPH will pay the remaining 10 per cent’s balance in cash after the final working capital adjustments.

There will also be a deferred consideration payment of up to NZ$400,000 (approximately A$370,000), which will be settled in cash. 

Moving forward, Baldwins Intellectual Property and its team will now work under the brand of its acquirer, AJ Park. As such, the combined companies will operate as one firm.

IPH shares are up 1.23 per cent in early trade, priced at $7.42 per share at 10:35 am AEDT.

IPH by the numbers
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