Banyan Software announces acquisition of Innovatum

ATLANTA, Nov. 15, 2022 /PRNewswire/ -- Banyan Software, Inc., a company focused on acquiring, building, and growing great enterprise software businesses, is excited to announce the acquisition of Innovatum. Innovatum's enterprise labeling software solutions enable the automation of product and package labeling and regulatory data upload in the life sciences industry.

Innovatum's flagship product suite, ROBAR, organizes and streamlines the entire labelling process for life science manufacturers, including design, printing, auditability and regulatory compliance. These agile and fully configurable solutions deliver process efficiencies, unlock savings, and reduce risk by enforcing compliance in an evolving global regulatory environment.

"Innovatum has an impressive track record of delivering enterprise-scale labeling software solutions for its customers worldwide," says David Berkal, CEO, Banyan Software. "We were impressed by the innovative and customer-centric culture established by the team. I'm excited about Innovatum's journey onward as we continue to invest in the business and enable it to play a key role in ensuring the integrity of the global life sciences supply chain."

"As founders of a company that we have nurtured into a best-in-class offering, it was critical for us to find an acquirer like Banyan. With its proven buy-and-hold philosophy, I'm confident in a seamless transition and that we've found the right long-term home for our two cherished constituencies — customers and employees. I'm thrilled by the notion of working with Banyan for the foreseeable future to further accelerate the organic growth of Innovatum while maintaining our extraordinary level of support and service," says Ardi Batmanghelidj, CEO, Innovatum.

About Innovatum. Innovatum is a regulated labeling software and consulting services company; a prolific innovator in its industry, tightly focused on life sciences labeling for more than two decades. As regulatory compliance experts, Innovatum provides specialty, configurable labeling software to fit the needs of its global customers. Innovatum has championed many of the most significant innovations in the industry. For more information, please visit: https://www.innovatum.com/

About Banyan Software, Inc. Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals. For more information, please visit: banyansoftware.com.

SOURCE Banyan Software, Inc.

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