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8 May 2019Patents

Practice Insight sells product suite to Pace IP

IP software business  Practice Insight has sold its document management system (DMS) product suite to Pace IP, a sister company of IP software service provider  Serviva.

The sale of the DMS product suite, which Practice Insight announced yesterday, May 7, will allow Practice Insight to increase its focus on its new autonomous time-keeping tool WiseTime.

Practice Insight developed the suite to enhance the use of the Patricia IP management platform by Patrix, a customisable IP software that handles case matters in IP firms and corporate departments.

Germany-based Serviva is a distributor of the Patricia software in the German-language market.

Thomas Haines, founder and CEO of Practice Insight, said that Pace IP was a natural home for the DMS product suite.

“Pace IP and Serviva are uniquely positioned to maintain and evolve the product, to meet the future needs of their existing client network, many of whom intersect with the current DMS customer-base,” he added.

This transaction had an effective date of May 1, 2019.

This isn’t the first time Practice Insight has divested some of its products. In  August last year, IP services provider  CPA Global acquired the company’s market insight tool  Filing Analytics and patent alert tool  Citation Eagle.

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Patents
16 August 2018   IP services provider CPA Global has acquired market insight tool Filing Analytics and patent alert tool Citation Eagle.