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Patent-rich technology firms with healthy balance sheets could be the target of firms looking to expand through acquisitions, according to new research.

A study by Business XL and CambridgeIP shows that firms with these attributes and low market valuations could be in the sights of businesses looking to grow, reports M&A magazine.

The research found that the ten firms with the great number of exclusive rights to products on the market have more than 2,500 patents between them, while the ten richest have combined balance sheets worth £242 million.

It found that the most patent-rich firms are currently Imperial Innovations, Transense Technologies and Ida Tech.

Yesterday, it was announced that UK security software firm Coexis is set to be acquired by Global Banking and Securities Transactions, which is based in Australia.

According to the British firm this deal will allow it to continue its expansion plans and let it access more clients.

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