Wazoku, a London, UK-based innovation startup, acquired PosterLab, a German R&D partnership platform.
The amount of the deal was not disclosed.
The acquisition, Wazoku’s second of the year, following the January 2023 announcement to acquire UK idea management firm Idea Drop, and the fifth since 2020, will enable the company to strengthen its enterprise offering and expands the breadth of its innovation lifecycle product suite.
Wazoku will integrate the platform into its existing product suite, and it will be relaunched as Wazoku Company Portal in Q2 2024.
Founded by entrepreneurs Sébastien Charles & Santiago Porta in 2019, PosterLab enables enterprises to scout, manage and collaborate with their innovation eco-system of innovation partners, such as startups, universities, corporates, suppliers, VCs and more. The system provides a clear partner eco-system, allowing users to scout for partners but then manage them effectively, knowing all their innovation partners’ capabilities and the nature of each collaboration. It also offers easy knowledge transfer, allowing users to access and share projects and results between partners, to facilitate true co-creation and collaboration. The company works with organisations including the world’s largest chemical producer, BASF, multinational optical system manufacturer, Zeiss, and one of Germany’s most highly regarded universities, Saarland University.
Led by Simon Hill, CEO, Wazoku works with global enterprises such as NASA, Enel, HSBC, AstraZeneca and more, helping them innovate at scale. It has seen rapid growth over the past few years as the world faces increasingly large and complex problems and requires a coordinated and concerted innovation effort to address them.
FinSMEs
14/12/2023