UAE - Mubasher: The UAE-based Gulf Capital, an alternative asset management company, has acquired the majority stake in CWB Group, a leading intellectual property services provider in MENA.

Since its establishment in 2006, CWB offers Patent and Trademark services, including counseling, clearing, filing, prosecution, maintenance, and enforcement services to Fortune 500 companies across MENA, according to a press release on Monday.

Through its seven offices and firms across MENA, CWB provides anti-counterfeiting and commercialisation services of Intellectual Property (IP) to its clients to enable them to protect and enforce their IP.

Commenting on the acquisition, the CEO of Gulf Capital, Karim El Solh, said: "The MENA, Africa, and CIS intellectual property services market is estimated at over $350 million annually and is expected to grow at c. 6% per annum over the next 5 years. CWB’s quality of service is unrivaled in the MENA region."

The CEO of Founder of the CWB Group, Halim Shehadeh, noted: "Our partnership with Gulf Capital is a major step towards reaching our goal of becoming the leading provider of IP services in emerging markets as we expand across new geographies, take on talented people, invest in new technologies and broaden our service offerings."