Following Octimine’s recent acquisition by the Dennemeyer Group, there have been numerous positive reactions in the IP-related press. Octimine, an innovative start-up provider of semantic patent search services, founded by Dr. Michael Natterer, Dr. Matthias Pötzl and Prof. Dr. Dietmar Harhoff (scientific advisor), stems from a research team of both LMU Munich and the Max Planck Institute. The possibility of a sale was somewhat surprising, reports Wirtschaftswoche, since the start-up raised millions in venture capital only last year. "We were on the way to shaping the future ourselves - but that would have taken longer in our industry," says Pötzl. After the acquisition, the company will be fully integrated into Dennemeyer, while also retaining all of its employees and its name.
World IP Review highlights the advantages of incorporating the search software into Dennemeyer’s existing IP product and service portfolio, while also bringing up the broader economic context in which the transaction took place.
Octimine’s software is used for prior-art, freedom-to-operate and opposition searches and delivers high-quality patent valuation, legal risks and innovation speed metrics. Through AI, machine learning and semantic algorithms, “octimine” provides a cutting-edge patent search and analytics tool.
IPPro Patents mentions several corporations and institutions which are already using Octimine’s services, among whom you can find Siemens, Deutsche Post, Swiss Federal Institute of Intellectual Property ip-search, Harvard University, Fraunhofer and Max-Planck-Institute. Commenting on the acquisition, Dr. Matthias Pötzl said: “The integration into one of the largest IP service providers is a major step forward for us. Combining our search and analytics capabilities with the full range of IP services as well as the global structure of the Dennemeyer Group creates exciting new opportunities.”
Another go-to industry publication, The Patent Lawyer Magazine, briefly notes the transaction and Dr. Reinhold Nowak’s (Dennemeyer CEO) views on this matter: “The acquisition of this innovative startup is a huge achievement in further realizing our global strategy.”
For additional information on Dennemeyer’s acquisition, read the full press release here.