Perth software business Practice Insight, led by patent attorney Thomas Haines, has sold its document management system product suite to a German company.
This follows the sale of its Filing Analytics and Citation Eagle products to CPA Global in 2018 and will allow the business to focus on development of its autonomous time-keeping tool, WiseTime.
Mr Haines, who was a 40under40 award winner this year, has developed multiple software packages.
The DMS document management system product suite has been sold to German IP software provider PACE IP, a sister company of Serviva.
Practice Insight developed the DMS product suite to enhance the use of the Patricia IP management platform, which is used by intellectual property firms and corporate departments to handle case matters.
Serviva is a well-known IP software service provider and distributor of the Patricia software in the German-language market.
“PACE IP is a natural home for the DMS product suite,” Mr Haines said.
“PACE IP and Serviva are uniquely positioned to maintain and evolve the product, to meet the future needs of their existing client network, many of whom intersect with the current DMS customer-base.”
Practice Insight was bought by ASX-listed IPH Ltd in 2015 for $8 million.
IPH managing director Andrew Blattman said the divestment of the DMS confirmed that Practice Insight continues to produce quality IP software products.
WiseTime is a privacy-first, autonomous timekeeping tool that produces accurate records of a professional’s time throughout their day, eliminating the need for manual administration.
