Sopheon Partners with Maxsoft to Provide Product Innovation Management Solutions in India

Leading Indian distributor of product engineering tools to market Sopheon’s Accolade® product lifecycle management software and deliver related services

Business development to focus on automotive, aerospace and defense sectors

MINNEAPOLIS and LONDON : Sopheon, the international provider of software and services for product lifecycle management (PLM), announced today that it has established a partnership with Maxrad Software India Pvt Ltd (“Maxsoft”), a leading provider of computer-aided engineering tools. Under the terms of the agreement, Maxsoft will market Sopheon’s Accolade solution throughout India. It will also deliver configuration, implementation and training services related to the software. Maxsoft supplies high-end software tools and solutions to automotive, aerospace and defense manufacturers. The company is based in Bangalore, with branch offices in Pune and New Delhi.

Today’s manufacturers are increasingly dependent upon product innovation for business growth. As a result, product lifecycle management has become one of the most rapidly expanding segments of the global software market. Sopheon’s Accolade is generally acknowledged as best-in-class among PLM solutions designed to support innovation governance and product portfolio management. The software replaces inefficient paper-based processes, automating product innovation and helping companies ensure that the most commercially promising new products get to market cost-effectively and on time. Deployment of Accolade creates a centralized best-practice system that supports decision-making and lifecycle management from a product’s inception as an idea until it is retired from the marketplace.

In commenting on today’s announcement, Rajeev Gopalakrishnan, chief executive officer of Maxsoft, said, “We are extremely happy to partner with Sopheon to bring Accolade into the Indian market. This relationship allows Maxsoft to provide manufacturers throughout India with a solution that will enable them to structure and govern their new product development processes from end to end. The Sopheon system has proven consistently that it can connect with a company’s innovation strategies and provide process automation and decision support that will lead to higher levels of revenue growth and profits from new products. We believe that Sopheon’s Accolade is the right solution at the right time for the Indian market.”

The development phase of product innovation is critical to every manufacturing organization, but of particular importance to automotive, aerospace and defense companies where the cost of program execution is especially high. The achievement of program goals in these industries often requires collaboration among cross-functional teams spread across companies, countries and cultures. Success also hinges on being able to effectively control complex resource and technology dependencies while tightly managing program requirements and risk. Accolade streamlines collaboration, while making program requirements visible with a level of detail that ensures precise, informed, cost-effective program management.

Industry analysts predict that the already strong global demand for product lifecycle management software will continue to grow at double-digit rates through 2012. The market for the software class led by Sopheon’s Accolade is expected to expand at a 17% CAGR. In India, industry experts are reporting a veritable boom in demand for PLM solutions.

“India has declared innovation to be a strategic national priority,” said Huub Rutten, Sopheon’s co-founder. “Companies throughout the country are focused on finding ways to generate maximum value from new and emerging products and technologies, a challenge that is core to Accolade’s value proposition. Maxsoft knows the Indian market for engineering, R&D and product innovation solutions inside out. Their record of success as a distributor, together with the strength of their competencies, experience and contact networks, will accelerate the introduction of Accolade to Indian manufacturers. This is an exciting move for Sopheon.”

Accolade® is a registered trademark of Sopheon plc
Vision Strategisttm is a trademark of Sopheon plc

Maxsoft is a leading, technology-driven, engineering software organization in India, trusted for its quality and commitment to customer satisfaction. For more than 3 years the company has provided a wide range of high-end engineering tools and solutions to leading manufacturers in the automotive, aerospace and defense sectors. Maxsoft's engineering skills help customers build designs from concept through analyses to prototype with emphasis on simulation and analysis. The company is headquartered in Bangalore, with branches in Pune, Delhi and Herne (Germany). For more information, please visit www.maxsoft-india.com.

Sopheon (LSE:SPE) is an international provider of product lifecycle management software and services. Its solutions help organizations increase revenues and profits from new products by synchronizing product planning and innovation process execution. Sopheon’s Accolade® software automates the product innovation process and provides strategic decision support for the management of product portfolios. Its Vision Strategist™ solution automates the roadmapping process, allowing users to visualize and forecast the future of products, markets and technologies. Sopheon’s solutions are used by industry leaders throughout the world, including BAE Systems, BASF, Cadbury Schweppes, Corning, Electrolux, General Motors, Honeywell, Lockheed Martin, Motorola, Nestle and SAB Miller. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com.