HORSHAM, PA., May 16, 2018 /PRNewswire/ --
PatentSight provides technology-driven organizations access to unique data analytics to gain valuable insights for strategic IP management
Reed Tech, a LexisNexis® Legal & Professional company, today announced the acquisition of PatentSight GmbH, a provider of analytics solutions that help patent professionals gain valuable insight into the strength, quality and relative value of patents and patent portfolios. PatentSight will become a part of the LexisNexis IP division of Reed Tech.
PatentSight evaluates worldwide patents using a scientifically developed proprietary methodology, the Patent Asset Index™. This method helps identify high value patents from less important ones, a prerequisite for reliable patent analysis. In addition, patent portfolios of competitors, suppliers, customers, areas of technology and new market entrants can be analyzed to identify opportunities and threats.
"Tech-driven companies need accurate data analytics to help them assess the value of patents and PatentSight has emerged as a true innovator in our industry with the development of a powerful, easy-to-use analytics platform that delivers this crucial business intelligence," said Ethan Eisner, president of Reed Tech. Eisner continued, "The addition of PatentSight to our LexisNexis IP product portfolio enables us to offer more complete patent workflow solutions, producing the most comprehensive range of IP offerings available from a single company."
"This is a very exciting day for all of us at PatentSight as it represents a tremendous endorsement of all the progress we made since starting the company in 2008," said Nils Omland, founder and CEO of PatentSight. "We are delighted to join forces with LexisNexis IP. This will allow us to take patent analytics to the next level. We look forward to collaborating with their global teams to give us more international exposure and to continue developing tools that provide unique, reliable and relevant insights into the patent landscape."
Nils Omland will join LexisNexis IP and will continue to lead the PatentSight team from its existing headquarters in Bonn, Germany.
About Reed Tech
Reed Tech, a LexisNexis company, is the provider of best-in-class information-based solutions and services to meet the needs of government agencies, the intellectual property market and the life sciences industry. Our customers are located throughout the world and include the U.S. government, numerous Patent Authorities, IP-driven companies, law firms, and a wide range of pharmaceutical and medical device manufacturers. Reed Tech has worked in the patent arena since 1970 with the U.S. Patent and Trademark Office (USPTO) and offers a suite of IP solutions that delivers the results you need across the patent workflow under the LexisNexis IP brand. The corporate culture is driven by a commitment to excellence, innovation, and a strong dedication to our customers, employees and communities.
About LexisNexis Legal & Professional
LexisNexis Legal & Professional is a leading global provider of legal, regulatory and business information and analytics that help customers increase productivity, improve decision-making and outcomes, and advance the rule of law around the world. As a digital pioneer, the company was the first to bring legal and business information online with its Lexis® and Nexis® services. LexisNexis Legal & Professional, which serves customers in more than 130 countries with 10,000 employees worldwide, is part of RELX Group, a global provider of information and analytics for professional and business customers across industries.
PatentSight was founded in 2008 and launched its first Business Intelligence Software in 2012. Its platform provides unique, reliable and relevant insights into the patent landscape for decision makers and patent experts in the fields of benchmarking, R&D strategy, finding trends, M&A, licensing and portfolio optimization. PatentSight is known for its development of the Patent Asset Index™ (PAI), a new approach to assess patent quality and to benchmark patent portfolios. The Patent Asset Index™ is recognized by technology leaders to provide an accurate view of the strength, quality, and value of patent portfolios to reveal the impact and efficiency of an enterprise's investment in innovation. The PatentSight team's passion is to provide its customers with the best patent analytics platform capable of delivering the right information at the right moment.
SOURCE LexisNexis IP