.
HYPE, with the support of its management and majority shareholder Main Capital, has acquired HLP, a leading provider of idea management and continuous improvement software. The partnership will further strengthen the exceptional market position of HYPE in the continuous improvement software segment.
Founded in 1997 with headquarters in Eschborn, Germany, HLP employs 26 people and has grown into a leading provider of software solutions that facilitate the processing of ideas in organizations. Its product suite covers a range of topics from idea management and continuous improvement to innovation campaigns.
Idea management and continuous improvement are an important pillar to any company in order to collect, categorize, search and evaluate the most valuable untapped opportunities in the organization. Continuous improvement helps to significantly lower the cost of an organization, emphasizing the importance of a well-functioning idea management tool. Moreover, idea management is considered mission-critical by many organizations to safeguard future growth. Consequently, HLP serves a well-diversified client base with 70% of the customers being Tier-1 organizations such as BMW, Henkel, Commerzbank, and Miele.
New technology, innovation, and the ongoing digitalization are constantly reshaping industries and business models. Even though innovation is a core driver for business growth, many companies fail to implement innovation and idea management effectively. Thus, a substantial potential of improving the business remains unseen. In light of this, the idea and innovation management market increasingly gains attention by companies who seek to improve their undynamic processes. Significant market growth rates are driven by companies recognizing the importance of engaging employees and show appreciation by valuing their ideas as well as by increasing the company’s return on investment through lowering costs and uncovering unnoticed firm insights.
Being responsible for approximately 150 employees in total, the combination of HYPE and HLP will further strengthen the prominent market position of HYPE in the innovation and idea management software market. With HLP, HYPE will benefit from an enthusiastic and highly specialized team in the continuous improvement segment. With its recurring and scalable profile, the combined group will be one of the top addresses in the attractive idea and innovation management market. HLP is the first strategic add-on acquisition for HYPE and represents an important pillar of the joint growth strategy to complement the innovative product and services portfolio and consolidate the strong market position.
Website:
https://www.hypeinnovation.com/
Source: Main Capital, December 14, 2020