IP Finance Company Buys Patent Research Firm for $150 Million

SIM IP Inc., a company started by patent monetization executive Erich Spangenberg, announced Thursday it purchased research platform Garden Intel for $150 million.

Garden Intel, founded in 2023 by Harvard and Stanford machine learning researchers, has an AI-powered search engine that embeds patent claims, disclosures and other information for results that exceed traditional, keyword-based methods, a company investor wrote on its website.

“The difference here is really good results, faster, better,” Spagenberg, whose company has been a Garden Intel customer, said in an interview. “The time you save—it’s not measured in hours, it’s literally measured in ...