Scipher to extend IP portfolio with yet2.com acquisition - Embedded.com

Scipher to extend IP portfolio with yet2.com acquisition

UK-based Scipher has agreed to acquire US-based yet2.com, an intellectual property licensing company, which claims to own the world's largest marketplace for the exchange of IP.

The total prices could be up to 6.8m depending on performance with initial payment of up to 3.8m. The deal is expected to be completed next Monday.

Yet2.com was set up February 1999 and is based in Cambridge, Massachusetts, with offices in Japan and Europe. It provides IP consulting and licensing services and over 6,000 technologies are currently listed with yet2.com for licensing or sale. Yet2.com has also developed a technology sharing exchange for use within large, geographically diverse corporations, and a system that clients can employ to license IP from their own websites.

The main financial investors in yet2.com are 3i and Venrock while customers who are also shareholders include Bayer, Caterpillar, DuPont, Honeywell, Procter & Gamble and Siemens.

Sales for the 11 months ended 30 November 2002, based on unaudited management accounts, have grown by approximately 225% to $2.6m (1.7m) compared to the equivalent period in the previous year. Losses for the same period have been reduced by approximately 45% to $6.8m (4.3m).

Scipher is a technology and licensing company and it portfolio covers the markets for displays, secure identification, communications, 3D sound and sensors.

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