Innovation scale-up agrees acquisition of UK idea management platform

A London-headquartered innovation scale-up has announced the signing of a binding agreement to acquire UK idea management platform, Idea Drop.

Wazoku’s acquisition further strengthens its position as a global provider of innovation services, leaving the company ideally positioned for further accelerated growth in 2023.

Idea Drop provides intuitive idea management software. It is used to drive revenue and market share, reduce costs, discover efficiencies, launch new products and differentiate from competitors.

Simon Hill, CEO, Wazoku, said: “Idea Drop is a fantastic brand and has built a deserved reputation as one of the top idea management solutions in the market. Its portfolio of clients is a testament to the value it brings.

“Idea Drop clients will now get to benefit from the Wazoku Innovation_360 suite of innovation tools.

“The Idea Drop agreement, along with our 2022 acquisition of Mindpool, is all part of our innovation at scale vision and continues our mission to change the world, one idea at a time.

“There is such a focus now on sustainable business and looking for different ways to solve problems, and Wazoku has created an enormously compelling proposition to help address those.”

The acquisition is Wazoku’s fourth over the past three years, following US Open Innovation firm InnoCentive in 2020, Colombian open innovation company Channge in 2020 and Danish firm Mindpool in 2022.