Forum Topics IKE IKE ASX Announcements

Pinned straw:

Added 9 months ago

Announcement

Interesting announcement. $IKE has appointed an SVP Product Development in the US. What makes it interesting is that the appointee comes from SPIDA Software, one of $IKE's key competitors which was acquired by Bentley Systems in 2021.

Glenn Milnes says "We have known and admired Brett and SPIDA, who our PoleForeman product competes with directly, for many years. As such we are very excited to welcome his deep domain expertise into our company where he will work alongside myself and our US-centred leadership team. As noted, Brett’s experiences are uniquely matched to IKE’s product suite, our industry, and our growth goals."

This could be a great hire.

Disc: Held RL and SM.

RhinoInvestor
8 months ago

Interestingly SPIDA was 26 headcount when it was acquired in 2021 https://www.businesswire.com/news/home/20210614005788/en/ compared with IKE's 72 at the end of their FY23.

Not much else about the price of acquisition or SPIDA revenue at the time and it all seems to have been swallowed into the results of the Bentley Systems now which is orders of magnitude bigger than IKEgps and it doesnt seem possible to pull out details. Bentley seems to be a very acquisitive company:

05e34a650686c288672e14dac5bc777ce7417f.png

5