iManage, a significant player in the work product managment software space for professional services firms, has announced a management buyout of their business from Hewlett-Packard. From the press release:
The iManage leadership team today announced that it has completed a buyout from Hewlett-Packard (HP) for the purchase of the complete iManage business, including its brand, products and services. iManage co-founder and current General Manager Neil Araujo is the CEO of the management-owned company, now one of the largest independent software companies focused on work product management solutions for professional services firms and their clients. Rafiq Mohammadi, also a co-founder and former CTO of iManage, is returning to the company as Chief Scientist.
“With this buyout now complete, the iManage team has rededicated itself to our customer and partner community around the world,” said Araujo. “They have trusted us with their most important assets, and we are proud to begin a new era of innovation and ultimate market leadership in partnership with them.”
The newly independent iManage is led by the founding executives responsible for making iManage the market leader relied upon by nearly 3,000 of the most prestigious professional organizations worldwide. iManage helps legal, accounting and financial services firms and the corporate departments they serve streamline the creation, sharing, governance and security of their work product to improve productivity and client service.
iManage offers several familiar solutions and maintains a close relationship with HP. The new company will also resell relevant HP products.
Work product management is serious business. Being able to securly store and quickly find information from our world of disjointed communications is critical to providing client service. It will be interesting to see how an independent iManage is received in the market.