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June 16, 2009
Off the Block
Two-bit
patent auctioneer Ocean Tomo has been snapped up by British ICAP, the world's
largest interdealer broker, for $5 million cash and a hypothetical $5 million in
shares. More precisely: "Application will be made for the listing of 692,226
ordinary shares of 10 pence each which have been conditionally allotted as
satisfaction for the stock consideration." Nine Ocean Tomo employees went along
for the ride. After a flashy start, Ocean Tomo had a hard go of it, the
recession sobering those who in flusher times might have splashed out for beachfront
abstract property.
Posted by Patent Hawk at June 16, 2009 11:40 PM | Patents In Business