Jan 23 IP Group Plc said it had agreed
to buy the 80 percent stake it does not already own in Fusion IP
Plc for about 70 million pounds ($116.08 million) in
The deal offers Fusion IP shareholders 0.446 IP Group shares
for every share held, or a premium of about 27 percent to the
stock's Wednesday close.
The deal values Fusion IP at 80.2 pence per share or about
87.8 million pounds.
IP Group currently owns a 20.1 percent stake in Fusion IP,
which commercializes intellectual property developed at
universities and similar establishments.