IP management and technology company CPA Global has made an undisclosed investment in Korean IP services provider Markpro, which was previously owned by UTC, a Korean technology-focused private equity firm.
Established in 1992, Seoul-based Markpro is a provider of patent renewals, trademark renewals and IP software to Korean companies. The firm manages the global IP portfolios of Korean and Chinese companies. South Korea is the world’s fourth largest IP market.
The investment by CPA Global will see the two companies further develop customer service operations to support delivery of localised versions of CPA Global’s software and services to Korean customers, and provide regional support for further growth into China.
CPA Global CEO Simon Webster said, “I have admired Markpro’s business for more than fifteen years and I am delighted that we have combined forces. Our shared ambition to empower Korean and Chinese customers with localised versions of our technology and services, supported by Markpro’s highest quality local customer service, makes this a very exciting time for both companies.”
The investment enhances CPA Global’s operational presence in Asia, which is the fastest growing region for IP filings globally. The partnership will see it expand its operational presence to over 125 experienced employees in the region.
According to a media release, CPA Global’s recent organic and M&A investment in the region means it now is the market leader in Korea and China, to go along with its long-standing partnership with NGB Corporation, the leading provider in Japan.
In China, the world’s third largest and fastest growing IP market, CPA Global claims to be the market leader for foreign patent renewals.