Pfizer invests in software company

Pfizer has announced that it is to subscribe to up to 500,000 pounds of ordinary shares of 0.0625p each in Imaginatik.

The problem-solving software provider has confirmed that the funding investment will be used to fund an expansion to its enterprise social networking and collaboration technology in a bid to further improve Imaginatik’s offering in the sector.

As well as investing in the company, Pfizer is to purchase 10,000 new licences of Imaginatik’s Idea Central software to evaluate the use of its software in other units of the company.

Pfizer will now have 25,400 Idea Central subscribers following the expansion to the user base.

Mark Turrell, chief executive officer of Imaginatik, said that Pfizer’s equity investment provided capital for the company at a “critical growth phase” and supported the value of Imaginatik’s enterprise social networking software and its overall business objectives.

“Our customers embrace collaborative innovation and use Imaginatik’s technology to tap into the wisdom and insights of their employee base and extended enterprise partners,” he added.

Pfizer’s research & development division has used Imaginatik’s software since 2005.

This week also saw Pfizer announce that it was to acquire the biopharmaceutical company Encysive for an equity value of approximately $195 million (100 million pounds).