Workshare, a document collaboration software firm started in San Francisco but now headquartered in London, today announced that it has acquired IdeaPlane, an enterprise social network built specifically for the finance and other highly regulated industries.
IdeaPlane was founded by James Fabricant, a former MySpace International executive, and the platform was built in partnership with one of the worldâ€™s largest investment banks.
Financial terms of the acquisition were not disclosed.
By following up the deal with the purchase of IdeaPlane, Workshare argues that it will be able to provide customers with a complete collaboration and communication solution that incorporates social networking functionalities.
Features that will be added to Workshareâ€™s cloud-based collaboration platform as a result of the integration of IdeaPlane includes status updates, email notifications, the promotion of events, news and content and the creation of open, closed and secret groups.
Workshare says over 18,000 organizations and more than 1.8 million professionals across 70 countries rely on its solutions today, mainly to increase productivity and safeguard their confidential information.
Existing investors in Workshare include Scottish Equity Partners and Business Growth Fund.
Image credit: Thinkstock