FOSTER CITY, CA, Nov 1, 2018 – Arena Solutions, the leading cloud-based product realization platform for complex electronics and medical device companies, announced it has acquired Omnify Software, a leading provider of product lifecycle management (PLM) software for discrete manufacturers. Omnify is based in Andover, MA and specializes in servicing high-growth manufacturing companies in the electronics, medical devices, aerospace and defense, and telecommunications markets. Madison Park Group acted as the exclusive strategic and financial advisor to Omnify and advised Arena Solutions in 2017 on an equity investment from JMI Equity.
The combined companies form the definitive leader in cloud-based PLM for the electronics market. Legacy PLM systems were architected with an acute focus on the mechanical world. The proliferation of electronics and software within consumer products, as well as within the industrial market has shifted the focus of product development groups from large customized PLM to an easily configurable and quickly deployable approach for launching complex systems.
Omnify chairman Brad Paul commented: “Working with Madison Park Group undoubtedly altered the trajectory of Omnify for the better. They went the extra mile throughout the entire process to ensure success not just for shareholders, but for customers and employees alike. I greatly appreciate MPG’s unique and significant knowledge of the engineering software and PLM market. It clearly enhanced the vision to create a player that will redefine the main stream PLM market.”
The PLM market continues the migration towards cloud solutions for the integration of mechanical, electronics and software. The ability to quickly manage these complex, interconnected systems and global product development and manufacturing teams will become increasingly important to rapid product development. The intersection of these paradigm shifts creates a unique dynamic in which legacy vendors will increasingly struggle to support client’s needs. PLM is the fourth largest software market with industry analysts estimating the market at over $40 billion by 2021. The combination of Arena and Omnify will further promote the proliferation of cloud-based, easily deployable PLM across the mid-tier and enterprise market.
Both companies have noted rapid growth in the Internet of Things (IoT) and medical device markets and will continue to support other key markets in consumer electronics, clean technology, aerospace and defense and industrial manufacturing. The combined entity will have offices in California, Massachusetts, Texas and Suzhou, China and will support over 1,300 customers such as Nutanix, Enphase Energy, Bio-Rad, Kymeta, and GoPro.
Madison Park Group’s Michael Magruder and Ralph Verrilli advised Omnify on the transaction.
Ralph Verrilli commented: “Both Arena and Omnify share a long history of success in the PLM market with a strong customer orientation and a vision to help companies achieve their strategic product development goals. As we mapped out the landscape of strategic options it became clear that collaboration between the companies would create a new force in the PLM market. We expect this transaction to alter the dynamics of the market, especially in the growing areas of electronics, medical devices and IoT.”
Madison Park Group is a global strategic and M&A advisor to the engineering and design software economy and has been instrumental in advising CAD, PLM and engineering software companies through their expansion and acquisition. Industry leaders trust Madison Park Group’s experience in the marketplace. If interested in learning more about MPG’s market views, please download the most recent industry report on the engineering software economy here.
About Omnify Software
Omnify is based in Andover, MA with a large customer base in the electronics, medical devices, aerospace and defense, and telecommunications markets. Its experienced staff and comprehensive cloud-based and on premises PLM software products allow its clients to have greater success in new product development (NPD) and new product introduction (NPI) processes, while also allowing them to reduce costs, risks, and improve profitability. For more information, visit Omnify’s website.
About Arena Solutions
Arena Solutions, based in Foster City, CA, helps innovative electronic high tech and medical device companies create products that change the world. Arena unifies product lifecycle (PLM) and quality management (QMS) processes, allowing every participant throughout the product realization process, from design to manufacturing, to work together. With Arena, teams accelerate product development and delivery to increase profits.
For more information, visit Arena’s website.
About Madison Park Group
Madison Park Group is a unique investment banking firm that takes a “strategy first” approach to advising technology companies. Their partners have scaled numerous successful companies in the enterprise software / SaaS sector as operators, investors and investment bankers. Their team acts as long-term strategic advisors to clients by blending practical financial advice and hands-on operational experience to deliver transformative outcomes. They help founders and investors navigate complex strategic initiatives such as liquidity event planning, acquisition identification and capital formation advisory assignments. Their partners have been instrumental in over 200 M&A and financing transactions over the past 20 years.
For more information about this transaction or others, please visit website.