Imprezzeo Completes MBO
Visual search technology company acquires full rights to IP
Sydney and London, 30 October 2012– The management team at visual search technology company Imprezzeo has successfully completed a management buyout of the business. Imprezzeo has acquired all rights to the IP developed since its inception in 2008. The company will maintain research ties with both the founding universities, who remain as minor shareholders in the company.
The buyout has been led by Peter Chin, the Chairman & CEO of Imprezzeo, with the support of two other Imprezzeo executives, Kurt Dressel, President & COO and Daniel Tarling, Vice President, Client Services.
Imprezzeo’s main product, Imprezzeo Image Suite, is an enterprise grade visual search platform that is used by corporate, government and other organisations to overcome the limitations of traditional text‑based search tools when searching for image content within documents, databases and web pages. Imprezzeo can be easily integrated with traditional search systems to provide a seamless user experience for complete rich content search.
Commenting on the transaction, Peter Chin said: “We appreciate the support both our university partners have given us since our founding. This deal represents a fantastic opportunity for the company. We have great confidence in the business and its unique technology and are well‑positioned for future growth. We are delighted to have completed this transaction. The management team at Imprezzeo has a deep understanding of our customers’ needs and the strengths that exist within our business. The MBO will allow us to develop our products even further and in new creative directions.”
Development will continued to be centered in Imprezzeo’s head office in Sydney with Commercial and Client Support operations based in London, UK.
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