With an Inc. 500 award for being one of America’s fastest growing companies, Bridgeline Software -- provider of the iAPPS web content management Suite -- is continuing their expansion into new markets by acquiring Indigio Group Inc., a web development company with a market presence in presence into Denver, Colorado and the Rocky Mountain region.
Most know Bridgeline Software for their suite of products referred to as iAPPS
. The iAPPS Framework and Product Suite is a combination of Content Management,
Analytics, eCommerce and eMarketing.
The acquisition of Indigio means Bridgeline
will have a stronger development team with experience in application development, design, usability and SEO
. It must be a good place to work -- they were just awarded the "Best Tech Workplace Award" in the state of Colorado by the Colorado Software and Internet Association.
Bridgeline bought Indigio for US$ 6 million including roughly US$250K of net working capital. The acquisition was based on a combination of cash and Bridgeline shares. The cash will come in increments depending on certain operating goals being met over the next 14 quarters.
Indigio co-founder and CEO, Tim Higgins will join Bridgeline as Executive VP and GM of Bridgeline Software - Denver.
Hard to say who's getting the better of this deal. Indigio
has revenues of over US$ 6 million per year and serves a high profile group of organizations who Indigio CEO Tim Higgins believes will be "will be very interested in their web application management software product line, iAPPS. It is a very impressive web based software solution".
Of course for Bridgeline, they are getting what appears to be a highly experience development group that can help their customers integrate the Bridgeline iAPPS suite successfully. They also get a well established new customer base to sell their wares to.