Anaqua merges with West Coast IP software competitor

Thursday, July 27, 2017
Boston Business Journal

Technology Reporter, Boston Business Journal

Anaqua Inc., a Boston-based maker of software for intellectual property lawyers, announced this week it is merging with one of its main competitors, California-based Lecorpio.

Neither side is disclosing the terms of the deal, but Anaqua, which has been majority owned by Bessemer Venture Partners and Insight Venture Partnerssince 2013, appears to be absorbing Lecorpio.

Anaqua CEO Bob Romeo will take on the leadership role at the combined company, while Lecorpio's CEO and a number of other executives step aside. Lecorpio chief technology officer Sunny McRae will stay on with the combined company.

Romeo was brought on as CEO several years ago after the $25 million investment from Bessemer. Anaqua was founded in 2004.

Romeo said about 35 Lecorpio employees will join the combined company, bringing its total headcount to about 335 globally. About 130 of those employees work in Anaqua's Back Bay office.

The Lecorpio brand will continue to operate independently, at least for now. Romeo said the two companies combined handle about 25 percent of all intellectual property work globally, including for customers like IBMFord and SAP.

Kelly O'Brien covers startups, venture capital and tech in Greater Boston.