Combined company would become premier global InnovationOps software and services provider
PITTSBURGH — October 31, 2023 — Sopheon (LON:SPE), the InnovationOps software company, today announced that its board has reached agreement in principle on terms of a recommended cash acquisition by Wellspring, a global leader in software solutions for technology transfer, IP management, and innovation. The combined company will offer complementary software products and services that will make innovation scalable and predictable for customers.
“After three solid years of growth and market expansion, including three acquisitions of our own, Sopheon is ready for the next major market opportunity," said Greg Coticchia, CEO of Sopheon. “Combining two InnovationOps leaders means we will be able to deliver a more expansive offering, one that is uniquely capable of delivering significant added value for customers and superior growth for the combined company.”
Under the proposed terms, Sopheon’s shareholders would receive £10.00 per share in cash. The per share purchase price represents a 104% premium to the Company's closing stock price on October 30, 2023 (the last trading day prior to the announcement of the transaction). The transaction is expected to close in early 2024 and is subject to formal processes and conditions including publication of firm offer documentation, and shareholder and regulatory approvals.
Sopheon’s InnovationOps software, services and expertise provide purpose-built tools for innovation and product leaders and their teams covering the entire innovation and product lifecycle, from discovery to realization. Sopheon helps the world’s leading businesses bring their most powerful innovations and products to market in alignment with their strategy, resulting in faster time-to-value and greater market impact.
To learn more about how Sopheon empowers executives, leaders and team members involved with innovation and product development to embrace change, visit our website at www.sopheon.com.
Wellspring is the world's leading provider of tech transfer, IP, and innovation software and solutions for corporations, universities, and government agencies. We help clients succeed in today's innovation economy by coordinating global R&D and innovation programs – managing research and IP portfolios, scouting emerging technologies, finding innovation partners, and commercializing inventions. Wellspring works with more than 500 organizations worldwide to support the continued development of the global Knowledge Supply Chain.
Sopheon (LON: SPE) empowers organizations to change the world while achieving exceptional long-term revenue growth and profitability. By operationalizing the entire innovation life cycle, Accolade® and Acclaim™ software and expertise enable innovation, product and project professionals to accomplish the full range of InnovationOps tasks to drive innovation at scale. Sopheon’s solutions have been implemented in over 50 countries by hundreds of blue-chip customers, including the three most recent winners of the PDMA’s Outstanding Corporate Innovator Award. Sopheon is listed on the AIM Market of the London Stock Exchange.
Sopheon®, Accolade®, Acclaim™ and “Empowering organizations to change the world” are trademarks of Sopheon plc.