Background: A leading private equity firm, with exclusive focus on the clean energy sector, was exploring an investment opportunity in a technology research company that developed a breakthrough 2nd generation bio-ethanol technology. The firm partnered with iRunway to conduct the required due diligence and help assess the strength of its technology and IP.
Insight Delivered: iRunway conducted a detailed inward and outward analysis of the target’s patents and technology landscape covering:
- Technology evolution & patent strength: Our team developed a detailed strength profile of patents based on multiple factors such as claim enablement, claim coverage, replaceability of the invention, etc. The analysis helped the client understand the presence of alternative concepts in bio-ethanol production and relevance of certain prior-art.
- Competitive Benchmarking: We delivered an analysis of the state-of-the-art in the field of lignocellulosic bioethanol production. A detailed comparison matrix was also provided, which gave the PE firm a complete perspective on the IP strength of relevant players and the target’s technology position in the market.
- Freedom-to-Operate: iRunway’s analysis provided the client with a fair assessment of the target’s business risks and liabilities (i.e. potential litigation and barriers in geographies of interest).
Outcome: Client closed this multi-million dollar opportunity by acquiring all the shares of the target firm from its primary investor. The PE firm also used the technology/ IP analysis to work with the target firm and made certain course corrections to better leverage the technology.
Background: Our client, a leading a software company, continuously explores strategic opportunities to expand, acquire and manage its product portfolio. The firm engaged iRunway to better manage its due diligence process, understand the open source obligations and the underlying risks in its acquisition opportunities.
- Thorough open source analysis & evaluation: Our consultants deep-dived into 5 million lines of code across 5 products to identify their open source footprint. The team uncovered 3% to 24% of open source content with restrictive licensing obligations distributed across 200,000+ lines of code across 5 different product modules
- Improved decision making: The analysis helped their corporate development team understand the scope of IP protection, assess liability-risks including remediation measures and determine the true value of each transaction.
Outcome: Saved millions of dollars including cost of remediation by helping the client make well-informed decisions. Helped the client complete the due diligence faster than automated solutions.