MONTREAL, Canada, July 21, 2015 /PRNewswire/ -- 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 developed 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 with launching successful agile projects. The combination of these two 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 out 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.
Founded in 1999, BrainBank is the pioneering platform for cloud-based Innovation Management. Collaborate, develop and capitalize on the best ideas from your employees and community - customers, partners and suppliers. This collective knowledge builds the economic moat for your brand, linking ideas to projects that lead to market beating future growth and profits. BrainBank is trusted by some of the world's most respected organizations and best recognized brands including Bruce Power, Bridgestone, Nestlé, Sempra Energy, Towers Watson and Verizon with millions of internal and external users. To learn more, visit www.brainbankinc.com
Planbox offers a full featured, yet easy to use cloud-based agile project management tool. Teams in companies of all sizes can plan, collaborate and deliver work more efficiently. Planbox is used by thousands of teams in global organizations such as CGI, Deutsche Telecom, Philips, Stanford, Starbucks, The Salvation Army and University of Michigan. To learn more, visit: www.planbox.com
Contact information: firstname.lastname@example.org
* Source: Worldwide Agile Application Life-Cycle Management Software 2014–2017 Forecast and 2012 Vendor Shares: Quick Access Drives Adoption and Business Agility. May 2014, Doc # 248800, Market Analysis