CPA Global invests in Markpro, the leading Korean IP services provider
Markpro’s exceptional customer service operations will expand capabilities to deliver a broader range of services and technology to Korean and Chinese customers
July 10, 2017 – SEOUL. IP technology leader CPA Global® is proud to announce its investment in Markpro, the leading Korean IP services provider, previously owned by UTC, the Korean technology-focused private equity firm. The terms of the investment are not disclosed.
Markpro is the leading provider of patent renewals, trademark renewals and IP software to Korean companies. Located in Seoul, and with international offices in four locations, the company manages the global IP portfolios of Korean and Chinese companies.
CPA Global and Markpro have a long history of collaboration, including a strategic alliance partnership for fifteen years. Recent discussions between CPA Global and Markpro have focused on collaboration to serve the evolving requirements of customers in Korea and China, two of the world’s leading markets for innovation and IP. With the recent launch of CPA Global’s IP One software suite on The IP Platform, Markpro customers will benefit from access to next-generation IP management solutions to solve complex IP issues.
CPA Global’s CEO, Simon Webster commented: “I have admired Markpro’s business for over sixteen years and I am delighted that we have combined forces. Our shared ambition to empower Korean and Chinese customers with localised versions of our technology and services, supported by Markpro’s highest quality local customer service, makes this a very exciting time for both companies.”
Jae Jun Lee, Markpro’s co-CEO, noted: “We are very pleased that CPA Global has invested in Markpro’s future. We were looking to expand our product, service and technology offering to our customers and it quickly became clear that this investment by CPA Global was the best way to deliver on this vision.”
The investment recognises the quality of Markpro’s excellent customer service operations which have been at the heart of the company’s success since it was founded in 1992. The combined companies will further invest in customer service operations to support delivery of localised versions of CPA Global’s industry-leading software and services to Korean customers, and provide regional support for further growth into China. The company will continue to operate under the Markpro brand.
Jae Jun Lee added: “For 25 years, Markpro’s employees have focused on providing the highest quality service to our customers and it is essential that any investor in Markpro shares this philosophy. I am delighted that CPA Global has expressed such commitment to continuing to support our relentless focus on our customers.”
The investment transforms CPA Global’s operational presence in Asia, the fastest growing region for IP filings globally, taking headcount to over 125 experienced employees in the region. CPA Global’s recent organic and M&A investment in the region means it now holds number one market positions in Korea and China to go along with its long-standing partnership with NGB Corporation, the number one provider in Japan. In Korea, the world’s fourth largest IP market, the deal announced with Markpro positions CPA Global as the largest IP services provider. In China, the world’s third largest and fastest growing IP market, CPA Global is the number one provider of foreign patent renewals. In Japan, NGB is the clear market leader for IP solutions and has worked exclusively with CPA Global for foreign patent renewals for over 40 years.