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Sopheon Expands into Asia and South Pacific with Acquisition of Prodex Systems

Written by Customer Service on . Posted in Mergers And Acquisitions.

Third acquisition in 19 months extends Sopheon global reach

PITTSBURGH, July 13, 2023 (GLOBE NEWSWIRE) — Sopheon, the InnovationOps software company, today announced the acquisition of the business and assets of Prodex Systems Australasia (“Prodex”), a specialist provider of innovation software and consulting based in Brisbane, Australia.

Prodex, a longtime reseller of Sopheon products, assists innovative and successful companies to make better, quicker decisions and increase speed to market. This acquisition gives Sopheon a truly global footprint and a strong platform to advance customer acquisition and growth in the world’s most dynamic region.

“This is Sopheon’s third acquisition in 19 months and the latest evidence of the strong momentum that our company is experiencing,” said Greg Coticchia, CEO of Sopheon. “With companies throughout Southeast Asia increasing their innovation investments, it’s fitting that Sopheon’s first acquisition to expand our geographic presence be in this expanding market. Prodex, a longtime reseller of Accolade, assists innovative and successful companies to make better, quicker decisions and increase speed to market. Sopheon’s innovation leadership continues to expand as a result of our consistent growth in product offerings, customer implementations and global reach.”

Sopheon’s previous acquisitions included ROI Blueprints and Solverboard. Those important technology assets were further developed and launched as Acclaim Projects and Acclaim Ideas, respectively. Alongside internally developed Acclaim Products, the launch of these new SaaS solutions have expanded Sopheon’s addressable market by an estimated $2 billion and boosted the company’s position as the leading software vendor focused on operationalizing the business of innovation.

“The transition for Prodex to become a Sopheon entity is an exciting extension of the reseller agreement we have had in place for many years,” said Gerard Ryan, CEO and founder of Prodex. “We are already working with Sopheon in Australia, New Zealand and Thailand, with market development plans in place for the wider Southeast Asian region. We’re excited by the synergy of immediate geographic expansion for Sopheon in this highly innovative and high-growth region, while also enabling true 24/7 coverage for Sopheon’s global customer base.”

Sopheon’s software offerings support InnovationOps thinking and principles that help organizations with managing discovery, product management, project management, portfolio management and governance. To learn more about how Sopheon and its products empower executives, leaders and team members involved with innovation and product development to embrace change, visit our website at www.sopheon.com.

About Sopheon

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 industry leadership was highlighted in the comprehensive MarketsandMarkets™ report on the Innovation Management market, in which Sopheon was listed in the “Stars” category, the highest recognition. Sopheon’s solutions have been implemented by hundreds of blue-chip customers with over 137,000 users in 50 countries. Sopheon is listed on the AIM Market of the London Stock Exchange.

Accolade® and Acclaim™ are trademarks of Sopheon plc.

Media Contact
Sopheon
Emma Hughes
Email: Emma.Hughes@sopheon.com

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