In a deal that’s been in the works for a while, Sopheon has completed the acquisition of Teltech. The new company will become a single-source provider of information and knowledge solutions by combining Sopheon’s software and systems implementation experience with Teltech’s research and content creation abilities. It will have offices in Europe and the United States and more than 250 employees worldwide. Founded in 1984, Teltech is an independent provider of B2B research and knowledge management consulting services to technology-driven companies. The reported price for Teltech was $35 million.
The new Sopheon will allow enterprises in the knowledge-intensive life sciences, high-tech manufacturing and healthcare sectors to access knowledge management consulting services and vertical software applications to receive appropriate content. Sopheon believes the traditional knowledge management software provides a "shell" that needs to be customized and filled with content, which can be costly and time-consuming. Sopheon’s software enables specific business applications, such as research and development, to create industry or business-specific content already built-in for implementation.
The merger gives UK-based Sopheon a market presence in the US and enhance its profile in Europe and the United Kingdom.