Clarivate Explained

Clarivate Plc
Former Name:Clarivate Analytics
Type:Public company
Predecessor:The Intellectual Property and Science business of Thomson Reuters
Founders:-->
Location:Philadelphia, United States
London, United Kingdom
Areas Served:-->
Key People:Jonathan Gear[1]
Revenue: (2022)
Operating Income: –US$3.9 billion (2022)
Profit:--> –US$4.0 billion (2022)
Assets: US$13.9 billion (2022)
Equity: US$6.81 billion (2022)
Num Employees:11,600 (2022)
Subsid:ProQuest
Footnotes:[2]

Clarivate Plc is a British-American publicly traded analytics company that operates a collection of subscription-based services, in the areas of bibliometrics and scientometrics; business / market intelligence, and competitive profiling for pharmacy and biotech, patents, and regulatory compliance; trademark protection, and domain and brand protection.[3] In the academy and the scientific community, Clarivate is known for being the company that calculates the impact factor,[4] using data from its Web of Science product family, that also includes services/applications such as Publons, EndNote, EndNote Click, and ScholarOne. Its other product families are Cortellis, DRG, CPA Global, Derwent, CompuMark, and Darts-ip, [3] and also the various ProQuest products and services.

Clarivate was formed in 2016, following the acquisition of Thomson Reuters' Intellectual Property and Science business by Onex Corporation and Baring Private Equity Asia.[5] Clarivate has acquired various companies since then, including, notably, ProQuest in 2021.

Company history

Clarivate[6] was formerly the Intellectual Property and Science division of Thomson Reuters. Before 2008, it was known as Thomson Scientific.[7] In 2016, Thomson Reuters struck a $3.55 billion deal in which they spun it off as an independent company, and sold it to private-equity firms Onex Corporation and Baring Private Equity Asia.[8] [9]

In May 2019, Clarivate merged with the Churchill Capital Corp SPAC to obtain a public listing on the New York Stock Exchange (NYSE)[10] It currently trades with symbol NYSE:CLVT.[11] [12]

After the 2022 Russian invasion of Ukraine, on March 11, 2022, Clarivate, which has an office in Odesa, Ukraine announced that it would cease all commercial activity in Russia.[13]

Operations

As of 2023, the company conducts operations through three strategic business units: Intellectual Property Group, Life Sciences & Healthcare Group, and Academic and Government Group, each led by a president.[14] [15]

Clarivate has been criticized for its anti-competitive practices in a highly oligopolistic academic database market, for increasing the prices of the products it acquired, for the lack of further development and integration of the acquired products, for not developing its own products, for outsourcing jobs from the US and UK to India, and for eliminating telephone support for many of the acquired products.[16] [17]

Leadership Changes

On July 11, 2022, Clarivate announced that Jerre Stead would retire from his role as Executive Chair and Chief Executive Officer to become Non-Executive Chair of the Board of Directors on September 1, 2022. Jonathan Gear, previously Chief Financial Officer of IHS Markit, joined Clarivate on July 11, 2022, as CEO-elect, and became Chief Executive Officer on September 1, 2022.[18] [19]

On September 1, 2022, Clarivate announced that Jerre Stead would retire from the Board on October 20, 2022, at which date Andrew Snyder, CEO of Cambridge Information Group and Vice Chairman of Clarivate, becomes the new Chair effective from that date. The Board has appointed Stead as Chairman Emeritus upon his Board retirement.[1]

Acquisitions

Divestments

Products and services

ProQuest

See main article: ProQuest. As Clarivate acquired ProQuest, various products of ProQuest are being operated under Clarivate, which encompasses products that ProQuest had taken on relatively recently, through acquisitions of its own—notably those of Innovative Interfaces: Vega, Sierra, Polaris, Millennium, and Virtua.[34]

Cortellis

Cortellis comprises life science-related intelligence services used to inform decision making across the drug and device development lifecycle,[35] including:

Derwent

Other database products and services used for searching and analyzing patents; IP administration and prosecution support services to support the IP lifecycle[36] include:

CompuMark

Information services used by brand and trademark professionals to evaluate new potential trademarks and monitor existing trademarks for infringement,[37] including:

ScholarOne

ScholarOne is a submission management system to allow an editor of an academic journal to manage electronic submission of authors' manuscripts for publication, to recruit reviewers of those manuscripts, to check authors' compliance with the journal's requirements, and to communicate with authors.[38]

Annual lists and reports

Highly Cited Researchers

See main article: Highly Cited Researchers program. Clarivate publishes an annual Highly Cited Researchers list. The list compiles "the world's most influential researchers of the past decade, demonstrated by the production of multiple highly-cited papers that rank in the top 1% by citations for field and year in Web of Science."[39] According to Clarivate, researchers are selected for their "exceptional performance" in one or more of 21 fields (those used in Clarivate Essential Science Indicators, or ESI) or across several fields. The 2019 list of Highly Cited Researchers was released on November 19, 2019.[40]

Clarivate Citation Laureates

From 2002 to 2020, 59 individuals listed as Citation Laureates have received Nobel prizes.[41]

Top 100 Global Innovators Report

The annual Top 100 Global Innovators report identifies the world's most innovative organizations. These businesses have successfully developed valuable patented inventions that also have strong commercialization potential based on market reach and impact on other downstream inventions. The 2020 Top 100 Global Innovators Report was released on February 19, 2020.[42]

See also

Notes and References

  1. Web site: Jonathan Gear Assumes Chief Executive Officer Role for Clarivate with Jerre Stead Retirement . September 2022 . 2022-09-05.
  2. Web site: Clarivate 2022 Annual Report (Form 10-K) . 1 March 2023 . U.S Securities and Exchange Commission .
  3. Web site: "Clarivate Analytics: New Name, Established Products" by Ojala, Marydee – Online Searcher, Vol. 41, Issue 3, May–June 2017. 2019-09-01. https://web.archive.org/web/20190901174626/https://www.questia.com/magazine/1G1-491848243/clarivate-analytics-new-name-established-products. dead.
  4. Web site: O'Grady. Cathleen. Journal impact factor gets a sibling that adjusts for scientific field. Science. 2021-06-30. 2021-12-05.
  5. . Clarivate Analytics . Acquisition of the Thomson Reuters Intellectual Property and Science business by Onex and Baring Asia completed . PR Newswire . 2016-10-03 . 2019-12-03.
  6. Web site: CPA Global is now Clarivate .
  7. Web site: Acquisition of the Thomson Reuters Intellectual Property and Science Business by Onex and Baring Asia Completed . 2023-04-26 . Clarivate . 3 October 2016 . en.
  8. News: Bob . Grant . Web of Science sold for more than $3 billion. The Scientist Magazine . 2016-07-15 . 2018-06-29.
  9. . Clarivate Analytics . Acquisition of the Thomson Reuters Intellectual Property and Science business by Onex and Baring Asia completed . PR Newswire . 2016-10-03 . 2018-06-29.
  10. . Clarivate Analytics . Churchill Capital Corp Completes Merger with Clarivate Analytics Plc . PR Newswire . 2016-10-03 . 2019-12-03.
  11. Web site: Clarivate Plc (CLVT) . 2021-11-16. Yahoo Finance. en-US.
  12. Web site: Clarivate Plc to Change NYSE Ticker Symbol to "CLVT" on February 1, 2021. 2021-04-27. Clarivate. 20 January 2021 . en-US.
  13. Else . Holly . Ukrainian researchers pressure journals to boycott Russian authors . Nature . 24 March 2022 . 603 . 7902 . 559 . 10.1038/d41586-022-00718-y . 35288680 . 2022Natur.603..559E . 247452826 . free .
  14. Web site: Brown . Lauren . Clarivate names Veinstein as president of its Academia & Government arm . The Bookseller . 14 January 2024 . April 19, 2023.
  15. Web site: Security Compliance . Clarivate . 14 January 2024 . en . The scope of the ISO/IEC 27001:2013 certification is limited to the information security management system (ISMS) supporting the systems, products and services provided by the Clarivate Intellectual Property Group (IPG), Life Sciences & Healthcare (LS&H) Group, and Academic and Government (A&G) Group ....
  16. Book: 10.1515/9783110646610-005 . 1.3 Eugene Garfield and the Institute for Scientific Information . Handbook Bibliometrics . 2021 . Pendlebury . David A. . 27–40 . 978-3-11-064661-0 . 235861751 .
  17. Book: 10.1201/9781315155890-2 . Web of Science: The First Citation Index for Data Analytics and Scientometrics . Research Analytics . 2017 . Schnell . Joshua D. . 15–30 . 978-1-315-15589-0 .
  18. News: Clarivate names IHS Market exec as new boss as CEO Jerre Stead retires . 2022-09-05.
  19. Web site: Clarivate Announces Retirement of Chief Executive Officer Jerre Stead and Appointment of Jonathan Gear as New CEO . 11 July 2022 . 2022-09-05.
  20. News: Page. Benedicte. Clarivate Analytics buys Publons. 2019-12-03. The Bookseller.
  21. . Clarivate Analytics . Clarivate Analytics Acquires Research Startup Kopernio to Accelerate Pace of Scientific Innovation . PR Newswire . 2018-04-10 . 2019-12-03.
  22. . Clarivate Analytics . Clarivate Analytics to enhance AI-driven trademark research solutions with TrademarkVision acquisition . PR Newswire . 2018-10-30 . 2019-12-03.
  23. . Clarivate Analytics . Clarivate Analytics acquires the SequenceBase business to expand its search and analysis capabilities for the life sciences IP market . PR Newswire . 2019-09-09 . 2019-12-03.
  24. . Clarivate Analytics . Clarivate Analytics has Acquired Leading Provider of Intellectual Property Case Law and Analytics Darts-ip . PR Newswire . 2019-12-02 . 2019-12-03.
  25. Web site: Clarivate to acquire Decision Resources Group. 2020-01-17. Clarivate Analytics. en-US. 2020-01-17.
  26. Web site: CustomersFirst Now, Now Part of Clarivate. 2020-06-22. CustomersFirst Now. en-US. 2020-10-22.
  27. Web site: Clarivate Completes Acquisition of CPA Global to Form a Global Intellectual Property Powerhouse . 2020-10-01. Pr Newswire. en-US. 2020-10-22.
  28. Web site: Milliot . Jim . Clarivate Completes ProQuest Acquisition . 2021-12-03 . 2021-12-04 . Publishers Weekly.
  29. Web site: Milliot . Jim . Albanese . Andrew . Clarivate to Buy ProQuest for $5.3 Billion . 2021-05-17 . 2021-12-04 . Publishers Weekly.
  30. Web site: Clarivate Successfully Completes Acquisition of ProQuest . December 2021. 2021-12-01.
  31. Web site: Clarivate Purchase of ProQuest Delayed . 2021-08-16.
  32. Web site: New For-Profit Subsidiary of ASME Acquires Techstreet Standards Management Business from Clarivate - ASME. 2021-08-08.
  33. Web site: Newfold Digital Completes Acquisition of MarkMonitor from Clarivate. www.newfold.com.
  34. Clarivate set to acquire Ann Arbor's ProQuest in $5.3 billion deal . 2022-01-22.
  35. Web site: Cortellis Life Science Intelligence Solutions.
  36. Web site: Home. Derwent.
  37. Web site: Trademark research and protection that inspires confidence. CompuMark.
  38. Web site: ScholarOne . Clarivate . 13 February 2023.
  39. Web site: Highly Cited Researchers. publons.com.
  40. . Clarivate Analytics . Global Highly Cited Researchers 2019 list reveals top talent in the sciences and social sciences . PR Newswire . 2019-11-19 . 2019-12-03.
  41. . Clarivate . Clarivate Repeats Nobel Laureate Prediction Success: Five 'Citation Laureates' Awarded 2020 Nobel Honors for Physics, Chemistry and Economics . PR Newswire . 2020-10-13 . 2020-10-22.
  42. . Clarivate Analytics . New Clarivate Analytics Report Reveals Emergence of Market Disrupters is Fragmenting Global Patent Landscape, Diluting Leading Innovators' Invention Market Share . PR Newswire . 2020-02-19 . 2020-10-22.

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