UL acquires Kansas-based Innovadex
Sunday, January 13, 2013 11:10 PM
NORTHBROOK - UL, an organization that advances safety, announced Monday it has acquired Overland Park, Kan.-based Innovadex, a search-and-information exchange platform for supplier chemicals, ingredients and raw materials. The strategic addition expands UL’s search offering to fully serve several new product categories, including paints & coatings, adhesives, inks, lubricants, cosmetics, cleaners and food & beverages. Innovadex’s specialized knowledge platform gives thousands of product formulators, chemists and scientists around the world accurate, timely access to suppliers’ technical information.The intuitive search and filter interface enables users to develop healthier, safer products by quickly mining a comprehensive database of more than 800,000 documents from over 1,400 suppliers.
The acquisition follows UL’s November release of its 2012 Product Mindset study, which found that 76 percent of manufacturers believe global sourcing is a means to improve product quality. Innovadex’s dynamic platform connects 130,000 design-side and supply-side members representing over 60,000 companies across North America, Latin America, Europe and Asia Pacific.
Innovadex will continue to serve customers from its www.Innovadex.comwebsite, and the team will remain at Innovadex’s Overland Park headquarters. Innovadex’s management team will be led by Mr. Ianni and Jim Dodd, who will report to . Greenstein.