Intellectual asset management provider Anaqua will be receiving significant investment from Insight Venture Partners, a company statement said. Although the agreement's terms were not fully disclosed, it has been reported that Insight will be buying out the existing investors of Anaqua.
"Anaqua's growth has brought us to the point where it is time for a new phase of strategic expansion requiring new resources for accelerated market development in all geographies, as well as continued investment in products and new IP services," Priya Iyer, Anaqua's Chairman and CEO, said.
"We will continue to serve our clients with the same team and same product and service offerings but with expanded resources for future growth," Iyer added.
As part of the deal, Insight's managing directors Alex Crisses and Jeff Horinng will be joining the Board of Directors of Anaqua.
GTC Law Group CA LLP & Affiliates and Marks, Baughan & Co. provided services to Anaqua while Deloitte Transactions Services and Goodwin Proctor LLP served as advisors to Insight Venture Partners.
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