Iops buyer inc., a wholly-owned subsidiary of Wellspring Worldwide Inc., has offered to takeover Sopheon Plc at the rate of £10 in cash per share. The acquisition values the entire issued and to be issued share capital of Sopheon at approximately £115 million.
Sopheon is a leading provider of end-to-end innovation management software solutions, which help customers drive strategy execution by providing accountability, visibility and control across the corporate innovation lifecycle, and represents an attractive opportunity to invest in a market leading enterprise software business across multiple geographies.
The acquisition represents an opportunity for Wellspring Worldwide to continue building a leading global innovation management software and services provider by combining its software solutions and data systems for managing technology transfer, intellectual property (“IP”) and innovation activities, primarily for the academic, government and corporate markets, with Sopheon’s complementary innovation and product development focus, particularly focused on the research and development functions of larger corporate clients.
Sean Downs CEO of Wellspring Worldwide, said: “We are excited to be announcing the proposed acquisition of Sopheon, which we believe represents a compelling opportunity for all stakeholders, with the full recommendation of its Board.
Sopheon is a clear leader in providing innovation management software solutions, which we have followed for some time. We believe the company aligns closely with Wellspring in terms of both strategy and culture, and the combination of our two businesses represents an opportunity to build a leading global innovation management software and services provider with a compelling product and services portfolio. “
Andy Michuda, Chairman of Sopheon plc, said: “I very much thank our investors, in particular our long-time investors, who have supported Sopheon through our evolution and am pleased that we have secured an acquisition price with such a solid premium. I am also excited for our employees and clients to grow and thrive going forward as part of the enlarged group.
This acquisition is about two companies with a common vision bringing together complimentary products, customers, and employee talent. The combination has a unique opportunity to set a new leadership standard for the Innovation Ops market, supporting the innovation product life cycle from emerging tech transfer, to product commercialization, through end-of-life.”
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