updated: 12/23/2010 12:44:06 PM
The chairman of the state's technology initiative says this week's $525 million acquisition of Indianapolis-based marketing software solution provider Aprimo Inc. shows the growth of central Indiana as a software community. TechPoint Chairman Mark Hill says that while the sale to Teradata Corp. (NYSE: TDC) leaves Indianapolis with only one publicly-held software company, Aprimo helped attract outside investors to the area.
Source: Inside INdiana Business
He says the company's success means others will be "more likely to consider Indianapolis as as a place to invest."
Hill also notes Aprimo has attracted and trained many employees who may now have "the confidence and credibility to advise and be part of the next generation of startups."
December 23, 2010
(Indianapolis, Ind.) - Today, Teradata announced the purchase of Indianapolis-based Aprimo for $525 Million.
On its face, this represents the loss of an Indianapolis headquartered company that has been poised to go public -- leaving Indianapolis only one publicly-held software company in Interactive Intelligence.
But a growing software community such as Indianapolis needs these types of outcomes to fuel further growth in innovative young companies with both financial and human capital.
Aprimo is a well-run company that employs hundreds of people in Indianapolis. It was founded by Bill Godfrey and Rob McLaughlin as they emerged from Software Artistry, another Indianapolis software success.
The money and experience they gained creating value at Software Artistry afforded them the financial and human capital needed to start Aprimo. Software Artistry also allowed Don Brown to start Interactive Intelligence and brought serial entrepreneur Scott Webber to town. Today Scott is an active angel investor in the HALO Capital Group and is working with Bidpal and Weblink, two emerging software companies.
Aprimo was started with angel capital, invested in a time when the dot-com bubble was getting ready to burst. This capital will now bear fruit in the way of cash, which will undoubtedly find its way into the next generation of companies.
Aprimo followed the path of most software companies in the use of employee stock options. Many current and former Aprimo employees will share financially in the considerable wealth created by Bill and his team. Some of that money will find its way to new startup companies, and some will find its way into our economy.
Much of the capital raised was by outside investors, and Aprimo needed their capital and expertise to build a world-class company. While that significant money will be returned to them, they will be more likely to think of Indianapolis as a place to invest in great software companies.
Importantly, the experiences of the many people at the Aprimo team will give them the confidence and credibility to advise and be part of the next generation of startups. Aprimo has attracted and trained a wealth of human capital.
Finally, but significantly, Teradata has not traditionally been focused on the software business, and certainly not cloud-based software. They will need the great people that Bill has assembled to execute their ambitious growth plans. I hope that our community embraces them and encourages their continued growth of jobs in Indianapolis.
About Mark Hill
Mark Hill is the chairman of the board of directors for TechPoint and a Managing Partner of Collina Ventures. Mark co-founded Baker HillŽ, which was acquired by ExperianŽ (EXPN.L) in 2005. Mark serves on the board of numerous companies, including Interactive Intelligence, (Nasdaq:ININ), Bluelock, CantaloupeTV and T2 Systems. He also serves on the Executive Committee of the United Way of Central Indiana, is an Adjunct Professor at the Indiana University School of Informatics, is on the board of the Central Indiana Corporate Partnership and recently joined the Indianapolis board of Teach for America.