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.