CPA Acquires FoundationIP and Takes Major Stake in Intellevate

Aug 24, 2005, 01:00 ET from Intellevate

    LONDON, Aug. 24 /PRNewswire/ -- The world's leading IP management
 specialists, Computer Patent Annuities Limited Partnership (CPA) is pleased to
 announce it has completed the acquisition of Minneapolis based FoundationIP
 and has taken a controlling stake in Minneapolis and India based Intellevate.
     "These acquisitions are part of our diversification strategy to further
 enhance CPA's ability to deliver a wide range of IP support services," said
 Peter Sewell, CPA's Chief Executive Officer. "Through our stake in
 Intellevate, we connect to the leading IP outsource support organisation.
 Through the acquisition of FoundationIP, we acquire the industry's leading
 tool for delivering those services."
     FoundationIP and the Intellevate service companies were founded in 1999 by
 Steven Lundberg and the law firm of Schwegman, Lundberg, Woessner & Kluth,
 P.A., US based patent attorneys and have added over 100 new customers in the
 last year. According to Lundberg, "FoundationIP allows IP lawyers to share
 information in real-time, harness the power of e-automation and allows work to
 be done wherever it can be achieved most effectively.  In other words it
 enables a true global workplace.  FoundationIP has allowed us to establish a
 large IP support team inside the Intellevate India facility and use it to
 deliver high value, low cost IP support services to Schwegman clients."
     According to Leon Steinberg, Intellevate's CEO, "We are excited to become
 part of the CPA Group.  We have been growing over the last two years at a
 blistering pace, as US based outsourced IP services and India based offshore
 services have gained legitimacy.  Although we have been profitable, financing
 our growth has been a challenge. CPA offers us the financial resources to add
 personnel and facilities. They also give us access to their significant
 industry experience."
     Corporations have been offshoring legal services for several years.
 However, this is the first instance where a major name in IP management
 services has acquired an outsource/offshore provider of legal support
 services.  This transaction is evidence that offshoring is becoming
     About Intellevate
     With facilities in India and the US, Intellevate offers its US customers
 both on-shore and offshore legal support services.  It exclusively serves
 intellectual property law firms and in-house legal departments. Its services
 include prior art searching, docketing, proofreading, paralegal services and
 patent illustration.  Its world-class facilities and security provide a cost
 effective option for law firms to increase capacity and quality. To learn more
 visit the company online at .
     About FoundationIP
     FoundationIP provides an intuitive, integrated, customizable environment
 for corporations and law firms to manage IP matters in a collaborative manner.
 The system is offered primarily in an ASP environment, meaning that there is
 no software to buy or equipment to purchase or maintain.  The system's
 customizable workflow allows users to save money by streamlining and
 automating the IP prosecution process the way they want. To learn more, visit
 the company online at .
     About CPA
     CPA is the world's leading IP management specialist. With over 35 years of
 patent and trademark experience and approximately 40,000 clients across the
 globe, CPA performs over one million renewals annually. Spanning IP
 administration, surveillance, systems and strategy, CPA's products and
 services include: software systems, patent, design and trademark renewals,
 trademark searching and watching, domain name management, Internet monitoring
 and patent analytics reports and consulting.
     About Schwegman, Lundberg, Woessner & Kluth
     The Schwegman law firm is nationally known for its pioneering practice
 management methods and technology in the intellectual property area.  These
 methods and technology, combined with its excellent attorneys, have resulted
 in the firm being recognized three years in a row as producing some of the
 highest quality patents in the United States.

SOURCE Intellevate