– Founded in 2007 and based in Pleasanton, California, Spigit is a leading provider of ideation and crowd innovation solutions
– Offers 2 principal solutions:
- SpigitEngage – facilitates ideation and directs participation to solving the needs of the organization through crowd-sourcing and game mechanics
- SpigitFusion – a back-end evaluation system that automates the management and evaluation of ideas generated by SpigitEngage
– Founded in 1994 and headquartered in San Francisco, California, Mindjet is a leading provider of cloud collaboration services
– Offers 3 principal solutions:
- MindManager – Tool for gathering, organizing, and visually prioritizing ideas from business plans to travel plans
- ProjectDirector – Provides project collaboration utility to help teams brainstorm, plan, and execute projects
- Enterprise – A cloud-based and on-premise Project Management suite
– The combined company is well positioned as a sizeable pre-IPO SaaS company and category killer in the Enterprise Innovation and Collaboration categories
– The merger brings Enterprise Innovation Management and market leading collaboration under one roof, providing a full range of solutions from ideation through implementation
– Analyst and customer validations are very positive, seeing relevance in the joint value proposition (hitting different parts of the innovation process)
– Post completion, NewCo will have complimentary product mix, go-to markets, geographic mix, as well as approach to sales
– In a competitive collaboration market, PICO approached Arma to create the best outcome for the Company and management
– Arma focused inquiries on a small handful of relevant players to create a highly targeted and discreet sale process
– Arma, together with the management team, was able to drive this successful process to completion within a compact timeframe (74 days from engagement to signing)