The ACCC today announced that they will not oppose the acquisition of XIP by IPH.
“Most customers we consulted did not express concerns” according to the ACCC press release which is an interesting contrast to the views of many non-listed patent attorney firms and their partners.
This is a significant de-risk to the proposed acquisition of XIP by IPH.
If the IPH acquisition of XIP goes ahead then this would be another blow to QIP’s aspirations to grow by acquisition. Rumour has it that QIP narrowly missed out on acquiring AJ Park in New Zealand and if it fails to merge with XIP then it does not have many remaining options to scale rapidly.
Of course, it’s not over until it’s over. There’s plenty of water yet to flow under the bridge!
Watch this space.