Astorg acquires Corsearch from Audax Private Equity
Astorg has completed its acquisition of Corsearch, from Audax Private Equity (Audax). Corsearch’s suite of end-to end brand risk and performance solutions include trademark research, online brand protection, and anti-piracy.
Building on Corsearch’s innovative tools for trademark clearance and brand and content protection, the new owners will invest in the continued development of the business and its services. Corsearch’s management team, led by CEO Tobi Hartmann, will continue to lead the organisation, building on an impressive track record of organic growth and strategic acquisitions.
The acquisition of Corsearch marks the second intellectual property (IP) deal announced by Astorg, which previously purchased Anaqua, an integrated end-to-end intellectual property management software (IPMS) to the world’s largest corporations in 2019. Innovation within the intellectual property services industry is a key theme for Astorg and follows many years of research in the space. Cobepa, a Brussels-based independent investment company, will also invest alongside Astorg pending regulatory approvals.
Corsearch has more than 800 employees across Europe, North America and Asia. The company services over 5,000 clients around the world including many of the world’s Fortune 100 companies.
“We are thrilled to welcome Astorg as our new owners and partners as we strengthen Corsearch Brand Risk and Performance solutions even further. They have extensive experience and knowledge in this industry, but more importantly they understand our customer needs well. Astorg has a track record of investing in product and technology in its portfolio companies, so I look forward to together building the next generation of the Corsearch suite and creating further value for our esteemed customers,” says Tobi Hartmann, CEO of Corsearch.
François de Mitry, Managing Partner at Astorg, says: “We are excited to partner with Corsearch on its continued journey as the vendor of choice for corporations and law firms in brand risk and performance services. We have tracked the company for many years and have been impressed with its strong market position and innovative technology.” Christopher Cozzone and Michael Beetz, Directors at Astorg, added: “Corsearch’s obsession is to create strong value for its enterprise customers. Its integrated IP platform is in a unique position to support legal, brand and marketing departments globally. We are excited to back management’s growth ambitions, accelerate investments in R&D, and actively consider M&A opportunities.”
“We are incredibly proud of our partnership with the Corsearch team. In just over three years, Corsearch has seen transformational growth in all their service offerings. We wish Tobi and his team the best for the future and look forward to working with Astorg as they steer the company into its next phase of growth,” adds Tim Mack, Managing Director at Audax.
The terms of the transaction have not been disclosed.
Harris Williams and Goldman Sachs served as financial advisors to Audax and Kirkland & Ellis LLP served as legal counsel.