An acquisition for innovation

Centric Software, a provider of innovation management software, has purchased virtually all the assets of Framework Technologies, a privately held developer of project collaboration, product innovation and portfolio management solutions. Terms of the deal were not disclosed.

The companies say they have complementary solutions, with Centric’s software designed to give manufacturers the tools they need to make informed product decisions and Framework’s product focused on giving them the ability to execute against those decisions.

They further add that the acquisition provides Centric with greater geographic and vertical industry opportunities than either company had as standalone organizations. Centric reports it is particularly strong in the automotive and aerospace sectors in Europe, and Framework says it has shown strength among pharmaceutical, consumer goods and engineering and construction companies in the United States.