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Home > News > GL Law advise on the sale of front-end innovation management business Solverboard

GL Law advise on the sale of front-end innovation management business Solverboard

20 May 2022 | Paul Hardman

Bristol based firm GL Law has successfully advised Solverboard, a cloud-based business specialising in the front-end of innovation management, on their acquisition by [Aim-listed group] Sopheon plc, in a deal worth up to £2.3m conditional on hitting financial targets and payable in a mixture of cash and shares.

Solverboard’s multi-tenant, SaaS product is used by both individual innovators and product professionals, and is sold using an online, product-led growth (“PLG”) model. Solverboard brings the innovation and product needs of professionals together so that they can focus on addressing front-end innovation challenges, increasing time to value by helping companies dynamically find, align, test and deliver the best innovation and product ideas from employees and customers.

Sopheon is the leading international provider of software and services for Enterprise Innovation Management solutions. The acquisition of Solverboard brings PLG capabilities into Sopheon more rapidly than previously planned. Sopheon will be introducing new cloud-based applications this year, providing value to individual and workgroup users in the corporate ecosystem. These new applications are intended to drive lead generation, as well as being stand-alone solutions that solve individual and workgroup productivity needs.

Solverboard were advised by the GL Law Corporate team, led by Nic Barker and completed by Paul Hardman. They were supported by IP specialist Ed Jaffa, and employment experts Cecily Donoghue and Nick Jones. 

Paul Hardman, Director and Head of Corporate & Commercial at GL Law commented: “We are proud to have acted on behalf of Solverboard, a business we know very well having worked with them for over 7 years. Solverboard were members of the Istoria Group, a long-term client of GL’s In-House Lawyer service, and we are delighted to have helped them in this significant sale.”

Phil Atherton, Managing Director of Solverboard said: “Thank you so much, I’m glad we were with GL Law through this experience. You’ve simply been fantastic and I am glad you were our team.”

“The acquisition of Solverboard is another step in our mission to provide the most comprehensive innovation platform for the world’s best companies,” said Greg Coticchia, CEO of Sopheon. “Adding Solverboard’s expertise to Sopheon’s growing portfolio of SaaS-based innovation products strengthens our position as the premier solution for innovation management, from strategies and ideas to execution and delivery.”

Expert corporate legal advice

The GL Law team have extensive expertise and experience in handling corporate deals. Since the beginning of the year, the team have completed, or are actively handling deals, with a combined value of over £145m.

If you are looking for highly skilled corporate solicitors with technical expertise and a breadth of experience to handle your merger & acquisition process, please get in touch. Call 0117 906 9400 or email hello@gl.law for further information from our corporate lawyers in Bristol and London.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.

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