IP specialist Novagraaf announced today that it has acquired the NovumIP software solution from Fusion Experience. The acquisition is an important milestone in Novagraaf’s strategic drive to provide market-leading and technology-enabled IP services to clients.
NovumIP: A technology for the future
Novagraaf undertook a comprehensive market search for a solution that enables clients to maximise the ROI from their IP investments. This review established that some of these technology solutions tend to meet only part of a modern IP department’s technology and workflow needs, which means that multiple solutions are required. Other platforms try to replicate an organisation’s enterprise system, which is not a realistic solution for many companies with multiple business units and active M&A strategies.
Novagraaf’s interest in NovumIP was prompted by its ability to deliver modular technology solutions which meet specific business IP needs. NovumIP provides efficiency enhancements in areas such as invention submission and invention management, IP reporting and contract management. In addition, it has the ability to act as a fully integrated IP organisation’s document management solution. This is achieved by integrating into a corporation’s various systems and collating real-time data that is relevant to the IP department and to decision makers.
The NovumIP technology was developed to meet the requirements of a major IP owner, which had established that its needs could not be satisfied by the solutions currently available in the market. NovumIP addresses this gap in the market and Novagraaf will continue to develop this solution for the benefit of its global customer base.
Commenting on the purchase, Novagraaf’s Chief Financial Officer Michel Elsenga said: “We have been really impressed with the achievements of the NovumIP team and are delighted that we’ve been able to make this acquisition. Assisted and powered by the Salesforce.com development platform, I firmly believe that NovumIP will enable businesses to improve the ways in which they manage, analyse and monetise their IP.
“We wanted to provide a smart IP technology solution that would allow IP departments to be more visible as profit centres, without requiring them to undertake the risky and resource-heavy process of transferring their data out of their existing systems,” Elsenga added. “NovumIP provides the ideal solution to those challenges for both large multinationals and smaller or medium-sized enterprises, allowing them to harness the power of their IP data.”