Planbox, a leading cloud-based agile project management solution, has merged with BrainBank Software the pioneering platform for cloud based collaborative innovation management to create a unique best of breed agile work innovation offering in a $1 billion+ industry.
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Montreal, Canada, July 21, 2015 (Newswire) – Planbox, a leading cloud-based agile project management solution, has merged with BrainBank Software the pioneering platform for cloud based collaborative innovation management to create a unique best of breed agile work innovation offering in a $1B+ industry.
The combined company will be called Planbox. BrainBank and its Idealink product will be marketed as Planbox Innovate and the existing solution as Planbox Agile. Ludwig Melik currently CEO of BrainBank will be the CEO of the combined company which will continue the development and support for both Planbox and BrainBank products – all existing agreements and support arrangements remain unchanged.
“The combined offering will allow us to benefit our mutual clients since innovation and agile project management go hand in hand,” said Ludwig Melik CEO of Planbox. “Being agile provides the flexibility that organizations need to bring innovation to fruition by iterating and experimenting on explored and developing ideas.”
Most agile project management solutions have created deep functionality that limits their appeal only to software development shops with complex requirements. Likewise, innovation management providers lack support for effective continuous experimentation customers require to capitalize on their innovation programs by launching successful agile projects. The combination of these totally complementary offerings provides a compelling solution that all users can benefit from.
IDC expects very strong growth for Application Lifecycle Management (ALM) software for the 2014–2017 time frame, with growth to $1.1 billion by 2017 and a high CAGR of 39.1%. Agile is a core component of ALM. Innovation management continues to receive great mindshare and the overall market size is accounted for within the PLM, PPM and ALM markets.
“Agile disrupted project management in software development teams more than a decade ago and now Planbox with its simplicity can make agile the new standard in innovation management and project work across the enterprise”,” said Ludwig Melik CEO of Planbox.
The merger also marks another successful exit for the startup incubator and seed fund Bolidea which originally invested in Planbox and brought it to initial scale.
“We are pleased to see that an experienced management team formed with successful industry veterans has chosen to invest in Planbox and take on our promise to be the best agile tool for everyone within an organization,” said Olivier Cabanes, former CEO of Planbox and Partner/Co-Founder at Bolidea.
Terms of the transaction were not disclosed. To find our more about the benefits of the merger between Planbox Agile Project Management and BrainBank’s Enterprise Innovation Management solutions write to us at email@example.com.