MLM 2, which is backed by Warburg Pincus, has acquired Minesoft, a patent search provider. No financial terms were disclosed.
LONDON and NEW YORK, Feb. 16, 2022 /PRNewswire/ — MLM 2, an information services and software platform led by veteran IP executive Mason Slaine, and Warburg Pincus, a leading global growth investor, today announced the acquisition of Minesoft, a leading patent search provider. The investment will enable the company to accelerate the development of new products, expand and scale globally, including in the U.S., and enhance existing products with analytics, artificial intelligence, and machine learning. Terms of the transaction were not disclosed.
Minesoft marks the first acquisition for MLM 2, backed by a $1 billion equity commitment from Warburg Pincus. MLM 2 continues to pursue additional acquisitions in information, software, and technology-enabled services, and aims to become the most advanced IP software, information, and services provider through extraordinary organic and inorganic investment. Mason Slaine, Co-Founder and Executive Chairman of MLM 2, will assume the role of Executive Chairman of Minesoft.
Minesoft is a global patent information solutions provider, developing mission-critical patent databases and web-based products for IP research. The company offers international patent searching, IP document retrieval, patent analytics and competitive intelligence systems for many of the leading enterprises and IP law firms in the world.
“Innovation has become the cornerstone of global growth, and patent search is critical to investing in innovation for global enterprises. This acquisition reflects the hard work of our employees, the loyalty of our customers, and our position as the most comprehensive patent research platform in the world,” said Ann Chapman-Daniel, Co-Founder and CEO, Minesoft. “We are excited to see Minesoft continue its next chapter of growth with MLM 2 and Warburg Pincus. Together, we are committed to continuing to focus on solving our customers’ most critical IP problems with our leading solutions,” added Ophir Daniel, Co-Founder and CTO, Minesoft.
“Our investment in Minesoft is the first step in our vision to build the leading information services solutions provider in the world. We plan to leverage our decades of IP expertise, significant investments in technology and people, and additional acquisitions to create a world-class platform of scale,” said Mason Slaine, Co-Founder and Executive Chairman, MLM 2. “We are excited to partner with Ann, Ophir, and Warburg Pincus, and are committed to Minesoft’s continued growth and long-term success,” added Dave Shea and Karl Jaeger, CEO and CFO of MLM 2, respectively.
“We are thrilled to partner with Mason and the MLM 2 team on the first acquisition of many to build a market-leading information services solutions platform. Our decades of IP market knowledge, combined with the operational and domain expertise at MLM 2, will help advance Minesoft’s market-leading position in patent search solutions,” said Chandler Reedy, Managing Director, Head of Strategic Investments, Warburg Pincus. “Minesoft embodies the most attractive characteristics we see in leading technology businesses, including a mission-critical value proposition, vital workflow integration, and strong prospects for organic and inorganic growth. We look forward to building upon Minesoft’s success in partnership with MLM 2,” said Alex Stratoudakis, Managing Director, Warburg Pincus.
Founded in 1996 to develop databases and software solutions for the information industry, Minesoft specializes in tools and services for retrieving, storing, and distributing patent information throughout the enterprise. Minesoft develops web-based patent search and software solutions offering searchable databases, competitive intelligence tracking, patent analytics and customized corporate knowledge management. Minesoft’s clients include Fortune 500/FTSE 100 companies, national PTOs, IP legal and patent attorney firms around the world.