Planbox, the pioneering provider of AI-Powered Agile Innovation Management software, and Imaginatik, the #1 ranked leader in Corporate Innovation Management according to Forrester Research, will join forces to seize on the innovation boom. Under the agreement, Planbox will acquire all of the assets of Imaginatik Plc (LON: IMTK) related to its Enterprise Innovation Management platform and global operations. This transaction is pending the final approval of Imaginatik shareholders by January 31, 2019. Going forward, Planbox and Imaginatik will combine their solutions to create a best of breed agile innovation management solution.
“Imaginatik has an incredibly talented team and product with a lot of potential. I cannot think of a better partner than Planbox to help us build on what we have achieved.“, said Angus Forrest, CEO of Imaginatik. “We know our employees, customers and partners will be in great hands with Planbox.”
The new combined company will expand Imaginatik’s UK and US operations and continue to work with its network of partners and suppliers around the world. Planbox’s track record of solid growth and its strong financial performance will accelerate product innovations and improve scalability for Imaginatik’s long-standing clients.
“We are honored to join forces with the Imaginatik team that we hold in very high esteem for their enduring commitment to providing global clients with unprecedented innovation results.”, said Ludwig Melik, CEO of Planbox. “We are thrilled to work closely with Imaginatik to combine both solutions and to further develop a unique best in class innovation management offering.“
All Imaginatik and Planbox agreements, support arrangements and operational data centers in the UK, US and Canada will remain intact. The new unified team also brings together two seasoned professional service organizations that combined have decades of consulting experience in the Innovation Management market and can now fuse their knowhow to deliver an unparalleled set of domain expertise services and next practices.
Planbox plans to invest in the most powerful capabilities of these two products and take advantage of the strengths of both offerings to create a superior value proposition. Imaginatik and Planbox customers will be able to continue to use their existing solutions on a standalone basis. Under this agreement Planbox will retain all existing Imaginatik resources and recruit new talent in North America and Europe to help the business continue to prosper.
Since the acquisition and merger of BrainBank Software and Planbox in November 2015, Planbox has transformed the innovation management landscape. Planbox was quickly recognized as a Leader by Forrester in the Innovation Management Wave Report in 2016. The company grew its revenue by more than 250% and doubled its workforce at a strikingly fast pace since 2016 while remaining profitable. The seasoned Planbox leadership and senior management team has a history of building strong, successful, leading and fast-growing software companies. The team is focused on creating a robust, secure and scalable operation capable of delivering the right solution to global organizations that are looking to innovate consistently and experiment more cost effectively.
Imaginatik’s deep bench of talent and premier standing in the innovation management market is widely known and well documented. The Imaginatik solution will now be combined with Planbox to deliver the most robust best of breed agile innovation management platform in the marketplace. Imaginatik results engine and analytics provides the necessary innovation governance with a comprehensive set of capabilities to evaluate, analyze and uncover impactful innovations. This will be augmented by Planbox’s powerful workflow engine, a native mobile app, patented AI technology called Self-Driving Innovation, agile experimentation and powerful innovation portfolio reporting and dashboarding.