LexisNexis Intellectual Property Solutions, part of RELX, announced that it has entered into a definitive agreement to acquire Aistemos Limited, a patent classification company, which trades under the Cipher brand. Aistemos Limited is a UK limited company founded in 2013. Cipher is a Software-as-a-Service (SaaS) analytics platform that uses artificial intelligence and supervised machine learning to automate the classification of patented technologies into custom or industry standard taxonomies. This classification supports IP teams in their strategic patent decisions and helps them communicate the risk and associated value of patents. Cipher's classifiers are built from proprietary machine learning algorithms that map patents to technologies using custom and industry standard taxonomies.
After the acquisition, Cipher will become part of LexisNexis PatentSight, the LexisNexis flagship IP analytics solution. With the addition of the Cipher classification capabilities, PatentSight customers will not only be able to build custom technology taxonomies based on how they view the world but also make those custom classifiers available across their entire IP department, providing a consistent understanding of the world's technologies.
The addition of Cipher represents a further extension of LexisNexis Intellectual Property Solutions' vision to bring clarity to innovation and help companies globally bring important innovations into the world.
The transaction is subject to customary regulatory approvals and is expected to be completed during the first quarter of 2023. Financial details are not disclosed.
To learn more about LexisNexis Intellectual Property Solutions, please visit lexisnexisip.com.