Wellspring, a global leader in software solutions for Technology Transfer, IP Management, and Innovation, and Sopheon, a leading provider of Innovation Management software and solutions, today announced their boards have reached agreement in principle on the key terms of a recommended cash acquisition of Sopheon by Wellspring. Please see a link to the relevant public announcement.
For Wellspring, this represents the latest in a wave of growth investments, following Resurgens Technology Partners’ platform investment in Wellspring last year. The acquisition will further accelerate Wellspring’s progress in building a leading global category leader for Innovation Management and IP Management solutions.
Sopheon’s board shares Wellspring’s excitement regarding the strategic and operational benefits that come from combining complementary product portfolios across complementary customer footprints. Sopheon has a large and established Innovation Management business, while Wellspring has an established leadership position in the IP Management and Technology Transfer markets. The combined company would also benefit from complementary geographical footprints, as well as mutually reinforcing strengths and expertise in the respective employee bases.
“We are extremely excited at the prospect of joining forces with Sopheon to provide greater value to customers worldwide,” commented Wellspring CEO Sean Downs, who will lead the combined company. “The highly complementary nature of our product offerings will create an opportunity for significant upside growth potential.”
Under the terms of the agreement in principle, Sopheon’s shareholders will 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 possible transaction).
Wellspring is the world’s leading provider of Tech Transfer, IP, and Innovation software and solutions for corporations, universities, and government agencies. Wellspring works with more than 500 organizations worldwide to support the continued development of the global Knowledge Supply Chain.
Source: Wellspring, Oct 31, 2023
https://www.wellspring.com/
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