After key departures, a bad economy and a failed March auction, the company sells its patent-auction business at a fire-sale price.
June 17, 2009 at 12:00 AM
1 minute read
SAN FRANCISCO — Ocean Tomo has sold its famed but struggling patent auction business to British brokerage ICAP for $10 million, the companies announced Tuesday.
The sale of Ocean Tomo’s transaction department, which includes the auction and patent brokerage, comes as revenue has plunged and key transaction leaders have left the company.
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