Record Bidding at ICAP Ocean Tomo Auction
Last Updated on Friday, 26 March 2010 09:20 Written by a2e Friday, 26 March 2010 09:20
ICAP Ocean Tomo, the intellectual property brokerage arm of ICAP plc, offered 46 Lots for sale at its 11th live public auction of intellectual property. Bidding activity generated $14.3 million including buyers premium, the second highest sales proceeds from any Live multi-lot IP Auction.
“The market for patents has rebounded strongly with a tenfold increase in volume from the lows of 2009,” reported ICAP Ocean Tomo CEO Dean Becker.
The firm continued to innovate the industry’s dominant venue for patent sales by allowing buyers to purchase select Lots in advance of the auction through a “Purchase Now” feature. Lot R, offered by the University of Southern California, comprised a license to patents fundamental to the University’s Shoah Foundation Institute collection.
“Today’s sale of an exclusive license for $7.7 million including buyers premium represents a game-changing event for universities and government research organizations who must maintain ownership of their assets,” explained Becker. “We now offer a way to commercialize the work of thousands of researchers across the nation.”
Just six weeks prior to the auction, ICAP Ocean Tomo began representing the renowned patent portfolio of Walker Digital LLC, containing more than 450 patents and patent applications. Bidding on this Lot began at $50 million and continued with substantial bidder activity to $135 million. “Although the Lot did not meet Mr. Walker’s minimum price, the significant bidder attention has already generated further buyer interest post-auction. We plan to finish the work on this Lot within weeks,” reports Becker.
ICAP Ocean Tomo’s next Live IP Auction will take place in November 2010 in California.
About ICAP Ocean Tomo
ICAP Ocean Tomo is the intellectual property brokerage division of ICAP.
About ICAP
ICAP is the world’s premier interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. ICAP is also the source of global market information and research for professionals in the international financial markets. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com
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