Clarivate – Famous American Analytics Firm Emerged As A Part Of Thomson Reuters.
Clarivate is an analytics company that mainly offers critical information, domain expertise, workflow solutions, etc. Its main goal is to reduce the time between cultivating new ideas and converting them to innovative solutions for its customers. Clarivate was founded in 2016 but before that, it was a part of Thomson Reuters (Intellectual Property and Science Division). Clarivate mainly offers subscription-based services for several purposes like competitive profiling, bibliometrics, etc for pharmacy and biotech. Clarivate is a publicly-traded company listed on New York Stock Exchange and its headquarters is based in Philadelphia in the US and London in the UK.
About Clarivate
Apart from being a global leader in the entrepreneurial community, Clarivate is also a well-known organization in the scientific community. The company mainly uses data from the Web of Science to calculate the impact factor. Its product family includes applications like Publons, EndNote, ScholarOne, etc. Clarivate was spun off from Thomson Reuters in 2016 after the acquisition of the former by Onex Corporation and Baring Private Equity Asia. In the last 5-6 years, the company made a series of acquisitions to expand the territory. And today the company has more than 11,000 employees who are working with 200 partners across the globe.
Clarivate is innovative in terms that it has a rich scientific influence as well as entrepreneurial zeal. Recently, it has also committed to #StandWithUkraine by launching resource centers for displaced researchers. It has also announced that the company will cease all its commercial activities in Russia. Though the company is expanding very rapidly, it has also been accused of using anti-competitive practices for increasing the prices of the products it has already acquired.
History
The original roots of Clarivate date back to the 19th century when in 1864 Zoological Record was founded. It is currently the world’s oldest database of animal biology. Over the years, the database has evolved and the company also broadened with trusted customers. Before Clarivate was known as the Intellectual Property and Science Division, it was known as Thomson Scientific. Then in 2016, the company decided to strike a deal with two private equity firms and sold Clarivate for $3.55 billion. In 2016, Company was officially separated from Thomson Reuters, and from the next year, the company started acquiring several other businesses for expanding the number of products and also spread into more geographical territories.
Expansion & Acquisition
Clarivate acquired a company called Publons in 2017. Publons offered a platform for research scholars to share recognition for the purpose of peer review. In April 2018, Company acquired another company called Kopernio which is an AI-based tech startup for searching full-text versions of several scientific and research journal articles. Later that year, Clarivate acquired another AI-based company called Trademark Vision for research applications. In 2019, the company decided to go public and hence it merged with Churchill Capital Corp SPAC and obtained a public listing on the NYSE. In 2019, Company acquired two new companies, namely, SequenceBase and Darts-ip. The former is a provider of patent sequence information mainly for the pharmaceutical industry while the latter is a provider of case law data and analytics. In 2021, Clarivate acquired ProQuest for $5.3 billion.
Jerre Stead – CEO of Clarivate
Jerre Stead is the CEO of Clarivate since 2019 and before that, he served as the CEO of Churchill Capital Corp. Stead is a very experienced business executive professional before he served in nine companies as the CEO. He served as the CEO of IHS Markit before getting associated with Clarivate and Churchill. Some of the other companies he worked for are Square D, AT&T, Legent Corporation, and many more.
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