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.