IP Group takes stake in Fusion IP

Intellectual property commercialisation company IP Group is to take a 19.8% stake in AIM-listed Fusion IP, a company which owns 100% of the rights to intellectual property generated by the universities of Sheffield and Cardiff.IP Group has also been granted the option to buy one-fifth of Fusion's interest in any spin-off company created from Cardiff University and the University of Sheffield, at a pre-determined valuation. In any instance where IP Group exercises an option to take a 20% stake it will be obliged to invest a minimum of 20% of the initial seed capital provided to each company.An IP Group representative will be appointed to the Fusion board following completion of the deal.'The strategic investment in Fusion ... consolidates our market leading position in the UK intellectual property commercialisation sector and we look forward to working closely with Fusion's management team and portfolio,' said Alan Aubrey, chief executive of IP Group.IP Group said the second half of the year has seen a positive performance with the value of the company's portfolio rising from £97.1m at the end of June to £98.8m, as at 6 November.The increase was largely due the increase in value of the 14 companies in the group's portfolio which are quoted on either AIM or PLUS Markets; these recorded a net fair value gain of £1.4m (3.9%) during the period to 6 November 2009. Ip Group