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Sopheon PLC on Monday said that it had acquired the business and assets of Prodex Systems Australasia for A$1 million, or around £518,195. Sopheon, the Surrey, England-based enterprise software provider, said that Prodex has been the company’s reseller in Australia for over a decade. Prodex is a provider of innovation software and consulting based in Brisbane, Australia. The company said that Prodex is a ‘healthy and profitable business’, with revenue of A$1.5 million and earnings before interest and tax of A$150,000. The deal with Prodex follows Sopheon’s completion of two transactions, acquiring and integrating ROI Blueprints LLC and Solverboard, now known as Acclaim Ideas, which brought significant technology assets to the company. ‘The launch of these new solutions expands Sopheon’s addressable market by an estimated $2.0 billion and boosts the group’s position as the leading software vendor,’ said Sopheon. Chief Executive Officer Greg Coticchia said: ‘This is Sopheon’s third acquisition in 19 months and the latest evidence of strong momentum that our company is experiencing. ‘With companies throughout South-East ASia increasing their innovation investments, its fitting that Sopheon’s first acquisition to expand our geographic presence be in this expanding market.’ Shares in Sopheon were up 5.9% at 598.20 pence in London on Monday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved
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