Wazoku, a London, UK-based innovation company, acquired Idea Drop, a London, UK-based provider of an idea management platform.
The amount of the deal was not disclosed.
With the acquisition, Wazoku will further strengthen its position as a provider of innovation services, positioned for further growth in 2023.
Founded by Charlie de Rusett and Owen Hunnam, Idea Drop provides idea management software used to drive revenue and market share, reduce costs, discover efficiencies, launch new products and differentiate from competitors. The acquisition is Wazoku’s fourth over the past three years, following US Open Innovation firm InnoCentive in 2020, Colombian open innovation company Channge in 2020, and Danish firm Mindpool in 2022.
Led by CEO Simon Hill, Wazoku provides an enterprise solution for idea management & open innovation, powered by its proprietary Challenge Driven Innovation methodology for Innovation at Scale. Its modular enterprise platform provides the tools companies need to power internal, external and open innovation across their global organization. Wazoku empowers organizations such as Waitrose, HSBC, NASA and AstraZeneca, as well as central/local governments and not-for-profits to help them embed innovation as a core everyday capability. The company has offices in Bristol and Dover, Delaware.
FinSMEs
24/01/2023