Innovise Limited has acquired the Ministry of Ideas (MOI) businesses in the UK, North America and Poland to form a new division in the group, focused on risk and loss prevention software.
Mike Taylor, CEO of Innovise, says: “MOI reminds me of Innovise Software in its earliest days, with its vertical market focus and dedicated team of professionals. We see great scope to help the business scale over coming years, which is why we were keen to acquire the business.”
And Jason Trigg, Founder of MOI, says: “Since we founded the business it has been focused on the needs of professionals in the risk and loss prevention market, especially retailers. However, as we have grown the need for scale and technology expertise has increased and this will change further with the arrival of GDPR in May 2018. Therefore, we decided the time was right to find a long-term home for MOI – one that would allow it to access investment resources and specialist knowledge while continuing its rapid growth in the risk and loss prevention space.”
Taylor said that Innovise will take a long-term approach to MOI, maintaining its entrepreneurial focus and looking to improve its operational processes – using some of the Innovise group resources where appropriate. Innovise will also look for opportunities for the two companies to work together.
Cortex, a division of Innovise, already has an office in Krakow, alongside MOI. Both companies have a North American office, which the firms say may provide opportunities to share resources and scale more. In security, Innovise will be looking at ways to link the data collected by users of its Timegate product with some of the risk and crime software maintained by MOI.
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