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Planbox Acquires IdeaConnection, an Open Innovation Expert Solver Network

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Planbox, a pioneer in cloud-based AI-powered agile innovation management platforms, today announced that it has acquired IdeaConnection, an open innovation platform, and marketplace. This is the fourth acquisition for Planbox since 2015 as it continues to develop and lead with the most comprehensive agile innovation management solution in the market. Planbox will now further extend and distinguish its solution by including IdeaConnection’s open innovation platform and highly skilled, vast and far-reaching expert problem-solver network in its Agile Innovation Suite offering.

“The world is facing unprecedented social, technological and global disruption which has caused massive turbulence and great challenges across all sectors. Companies face pressing demands for solutions to complex problems. We give businesses access to the world’s most creative and innovative minds who work collaboratively to solve problems and develop innovations,” said Scott Wurtele, CEO of IdeaConnection. “Our motto is multidisciplinary teams solve problems.”

IdeaConnection has a long-standing record as a trusted open innovation partner for some of the world’s most recognized brands with a reputation for running completely confidential challenges with pre-screened candidates under NDA. Hand-picked teams of diverse experts are selected to develop innovative solutions and alleviate the burden on the client who has to choose from a select number of proposed solutions. This unique confidential challenge service provides the perfect platform for solving critical path problems quickly by de-risking a part of the discovery and research stages of problem-solving and new innovation activities.

IdeaConnection gives organizations the tools to discover, invent and explore the technologies and processes that will shape tomorrow’s world. The virtual workforce of 20,000+ experts, thought leaders, scientists and innovators across 180+ countries is ready to help by working together and delivering the innovations that are needed right now. The emphasis is on the quality of the contributors in the network who are heavily screened, continuously vetted and reviewed by customers to ensure only top-notch solvers are invited to participate, all of which contribute to IdeaConnection’s industry-best 80% solver rate, an unparalleled figure that speaks to the volume of challenges solved through the network.

“The global collaboration between public and private organizations all across the world to defeat this health pandemic is a great example of what can be achieved when the world’s best minds come together to solve a problem,” said Ludwig Melik, CEO of Planbox. “IdeaConnection has built its business on establishing the most impressive network of expert knowledge over the last decade based on this premise. Now, by combining IdeaConnection with Planbox, we are launching a unique innovation platform AND marketplace that can provide any organization with an end-to-end experience to discover the best opportunities, solve the toughest problems and deliver the most incredible solutions.”

IdeaConnection has been solving problems since 2007 by assembling carefully built multidisciplinary teams led by world-class facilitators. These expert teams develop intensely researched and highly innovative solutions. Using this approach, IdeaConnection has achieved a best-in-class solve rate for thousands of problems ranging from food science, chemistry, engineering, biology, manufacturing, crop science, packaging, artificial intelligence, machine learning, big data, consumer products and hundreds of other areas of expertise. It has also built a network of networks with thousands of relationships for prior art citation searches on a contingency basis. Customers can gain unprecedented access to source emerging technology leads through a global network, actively and continually researching for potential opportunities that turn the conventional method companies pursue on its head.

This News has been Published in Partnership with PR Newswire

Acquisition

Singapore based Giift acquires a majority ownership in Xoxoday, a fintech disruptor in the rewards, incentives, and payout space

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Singapore based Giift acquires a majority ownership in Xoxoday, a fintech disruptor in the rewards, incentives, and payout space

Giift, a leading provider of loyalty management solutions around the globe, announced today that it has acquired a majority interest in Xoxoday, an India-based fintech disruptor in the rewards, incentives, and payout space. Giift’s investment will enable Xoxoday to fuel the next stage of growth in international markets and upgrade its technology infrastructure. Giift and Xoxoday’s strategy is to advance its technology leadership, increase market penetration, and create the undisputed global standard for loyalty platform technology.

Xoxoday provides an advanced and scalable infrastructure platform that enables businesses of all sizes and industries to automate rewards, incentives, and payouts for employees, partners, and consumers. With a first-principles approach, the company reimagined how rewards, incentives, and payouts should work. Today, Xoxoday enables rewards and incentives to be embedded and integrated in the flow of work across the value chain. Since different business contexts demand tailored solutions, Xoxoday has three SaaS offerings for the market.

  • Plum, a horizontal platform infrastructure that automates rewards, incentives, perks, and payouts programs.
  • Empuls, a vertical platform that enables organizations to create an engaged workplace, where everyone is aligned, empowered, and connected through a continuous process of feedback and improvement.
  • Compass, a platform automating and gamifying sales incentives and commissions for sales teams.

Giift and Xoxoday’s combined technology platforms will cover the entire loyalty value chain. It will enable both companies to enlarge their service offerings and collectively accelerate growth globally. The Giift and Xoxoday SaaS platforms will cover the broadest available loyalty product suite, serving corporate programs with end-to-end loyalty technology, employee rewards and recognition programs, sales and channel incentives, merchant loyalty programs, and consumer incentive programs powered with a global marketplace.

Giift and Xoxoday jointly address all market segments and industries. From the largest global corporations to mid-sized domestic entities and local merchants, the combined platform helps attract and retain customers and incentivize employees and partners. Furthermore, the platform is industry and geography agnostic, with clients representing a broad array of industries including financial services, utilities, hospitality, consumer products, real estate, and pharmaceuticals, across the Americas, APAC, MENA, and Europe.

Co-Founder and CEO of Giift Laurent Xatart commented, “Xoxoday is a unique and powerful loyalty platform for employee, sales, and consumer rewards. Our partnership with Xoxoday will enable Giift to offer the most comprehensive engagement and loyalty solution available on the market and represents a big step forward in our mission to create the global standard for the loyalty industry.”

Sumit Khandelwal, Co-founder & CEO Xoxoday, added, “We firmly believe that growth compounds with the right people and right partners. With Giift and Apis Growth Fund II on board, I can only see growth upwards and onwards from here. Giift’s loyalty infrastructure and Xoxoday’s rewards infrastructure, together, cover the length and breadth of business use cases across the entire lifecycle for employees, channel partners, and consumers.”

About Xoxoday

Xoxoday is a rapidly growing fintech SaaS firm that propels business growth while focusing on human motivation. Xoxoday offers a suite of three products – Plum, Empuls, and Compass. Xoxoday works with more than 2000 clients, across 10+ countries and over 2.5 million users. Headquartered in Bengaluru, Xoxoday is a 270 member strong team with four global offices in San Francisco, Dublin, Singapore, New Delhi. www.xoxoday.com

About Giift

Giift serves the multifaceted loyalty industry across three main functions including Loyalty Issuance, Loyalty Exchange, and Loyalty Payment. Founded in 2013, today Giift manages 50k+ programs across 55+ countries and over 130 million users. The company is headquartered in Singapore and has offices in New York, London, Wuhan, San Francisco, Nairobi, Beijing, Mumbai, Dubai, Lagos, Jakarta, New Delhi, Doha, Dhaka, and Colombo. www.giift.com

About Apis Partners 

The Apis Group (“Apis”) is an ESGI-native global private equity and venture capital asset manager that supports growth-stage financial services and financial infrastructure businesses by providing them with catalytic growth equity capital. Collectively Apis, through its team of approximately 30 professionals with deep industry expertise, manages or advises on total committed capital from investors (including drawn and invested capital) of US$1.2 billion. Including its headquarters in London, Apis has representation in seven countries across Europe, North, East and West Africa, and South and Southeast Asia. www.apis.pe

Media Contacts

Xoxoday – Janani Rangarajan: janani@xoxoday.com | +91 988 454 0050

Giift – Pascal Xatart: pascal.xatart@giift.com | +44 7470 605 095

Apis Partners – Stephanie Mullard: stephanie.mullard@apis.pe | +44 20 3653 050

Logo – https://mma.prnewswire.com/media/1162353/Giift_Logo.jpg

This News has been Published in Partnership with PR Newswire

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Acquisition

Tickets For Less Announces Acquisition of Just Tix

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Tickets For Less Announces Acquisition of Just Tix

Tickets For Less, one of the fastest growing event distribution companies in North America, has acquired the assets of Just Tix, a boutique ticket broker that specializes in providing premium ticket solutions for the San Francisco Bay area.

With this latest acquisition, Tickets For Less continues its focus on expanding their retail customer base in strategic markets. “Local ticket resellers play a key role in providing best in class customer service, premier inventory selection, and fair prices for local fan bases,” said Dan Rouen, President of Tickets For Less. “That coupled with an aligned customer service value made the acquisition of Just Tix a perfect addition to the Tickets For Less family.”

The acquisition brings to Tickets For Less a strong customer base within the San Fransisco Bay area. Additionally, Tickets For Less will benefit from Just Tix’s corporate and hotel concierge program which has been serving Northern California for decades. Since 1994 Just Tix has served clients across the Bay Area and around the country. From sports, to concerts, festivals, and theatre, Just Tix has always provided personal service at the highest level.

The Just Tix acquisition adds to Tickets For Less’ history of growing by partnering with retail resellers, including the most recent acquisitions of Ticket Solutions which was finalized in December of 2020. Other acquisitions include Ace Sports and Brickhouse Tickets.

About Tickets For Less:

Founded in 2004, Tickets For Less is one of the fastest growing event distribution companies in North America and is the leading Midwest ticket marketplace for sports and live entertainment, consistently receiving highly rated reviews from customers. Tickets For Less’ success is rooted in their ability to provide an easy ticket buying experience to their customer with no service fees or surprises at checkout (www.ticketsforless.com). In 2020, Ticket Solutions, an industry leader in hospitality, fan travel, VIP corporate ticketing, and premium experiences joined the Tickets For Less family. Ticket Solutions is now the go-to market brand for all Tickets For Less business-to-business operations (www.ticketssolutions.com).

About Just Tix:

Founded in 1994, Just Tix is a boutique ticket broker that specializes in providing premium ticket solutions for the San Francisco Bay area events. Additionally, Just Tix offered a corporate and hotel concierge program which has been serving Northern California for decades. From sports, to concerts, festivals, and theatre, Just Tix takes pride in providing customers value for their entertainment dollars (www.justtix.com).

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Acquisition

Netflix to Acquire Finnish Mobile Game Developer Next Games

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Netflix to Acquire Finnish Mobile Game Developer Next Games

Netflix, Inc. (NASDAQ: NFLX) today announced that it has entered into a combination agreement to acquire Next Games (NXTGMS). Under the terms of the agreement, Netflix will commence a tender offer to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65 million. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.

“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities,” said Michael Verdu, Vice President of Games, Netflix. “We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities. While we’re just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world class games that will delight our members around the world.”

Founded in 2013 and led by Teemu Huuhtanen, Next Games creates and operates engaging mobile games with global appeal and an authentic and social fan experience at its core. The company’s strategy is to develop games based on popular entertainment IP, such as Stranger Things: Puzzle Tales, a story-driven puzzle role playing game (RPG) inspired by one of Netflix’s most watched series. The company had approximately 120 employees at the end of 2021 and reported sales of approximately €27.2 million in 2020, with 95% of revenues generated from in-game purchases.

“We have had an unwavering focus to execute on our vision: to become the partner of choice for global entertainment businesses and craft authentic and long-lasting interactive entertainment based on the world’s most beloved franchises,” said Teemu Huuhtanen, Chief Executive Officer, Next Games. “Joining forces with the world’s largest streaming service, Netflix, presents an opportunity for a logical and exciting continuation of our strategy to craft interactive experiences for the world to enjoy. Our close collaboration with Netflix on Stranger Things: Puzzle Tales has already proven that together we create a strong partnership. This is a unique opportunity to level-up the studio on all fronts and continue on our mission together.”

The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions.

About Netflix

Netflix is the world’s leading streaming entertainment service with 222 million paid memberships in over 190 countries enjoying TV series, documentaries, feature films and mobile games across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any Internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.

About Next Games

Next Games is the first publicly listed mobile game developer and publisher in Finland, specializing in games based on entertainment franchises, such as movies, TV series or books. The developers of the critically acclaimed The Walking Dead games redefine the way franchise entertainment transforms into highly engaging service-based mobile games. Next Games works on multiple new games based on beloved global IP’s. The company’s latest game, Stranger Things: Puzzle Tales, is based on Netflix’s hit 80s horror drama series.

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