July 18, 2012
-- TANGIBLE IP, LLC an international patent brokerage and Intellectual Property advisory firm headquartered in Seattle announced the sale of a patent portfolio in the desktop telephony area to a Fortune 500 company earlier this month. The brokerage firm was retained after two other brokers failed to bring a suitable offer to the seller, Baxtech Asia Pte Ltd. Tangible IP took only three weeks to attract a credible buyer within the price range sought for by the seller and coordinated a closing in the record time of only three more weeks. The name of the acquirer or the specifics of the deal could not be disclosed further.
This is the fourth patent sale of seven figures or more orchestrated by Tangible IP since the beginning of 2012 and more are in closing stage.
“We are very proud that we were successful in generating interest for this portfolio through our extensive network where other firms did not succeed”, said Louis Carbonneau, CEO and founder of Tangible IP. “Furthermore, our client had a hard requirement to not only find a suitable buyer in three weeks, but close the deal within a very short period of six weeks from the day we were retained, which is extremely aggressive as patent sales go. We took on the challenge and delivered on time.”
Baxtech’s CEO, Mr. Lawrence Lee, was extremely pleased with the results. “We tried to sell these patents through other brokerage firms for over two years without success. We now realize that the reputation and network of a broker are absolutely paramount to the business of selling patents. Louis’ reputation in the industry is stellar and his relationship with the many buyers was key here to being able to find a buyer at a price we liked in such short time. With his business and legal expertise, he also guided us throughout the whole process so that there were no surprises along the way and we had a high level of confidence that the deal would sustain the buyer’s due diligence process and close as scheduled. We definitely plan to retain the services of Tangible IP in the future to divest of other assets.”
Tangible IP, LLC specializes in selling high quality unencumbered patents and has now brokered the sale of over 1500 assets since its inception and has returned tens of millions of dollars back to inventors, shareholders and patent owners.
ABOUT TANGIBLE IP, LLC. Founded in 2011 by former GM of IP & Licensing at Microsoft Louis Carbonneau, Tangible IP offers full service patent brokerage and related IP licensing and consulting services. For more info, visit www.tangibleip.biz or contact us via email at firstname.lastname@example.org or by phone at +1 (425) 213-7252.
ABOUT BAXTECH ASIA PTE LTD. Baxtech Asia Pte Ltd is a company based in Singapore that is in the business of monetizing intellectual properties and building innovative solutions around them. Patents owned by Baxtech Asia include those in the fast-growing mobile telephony space with special emphasis on voice-command features.