Prodika is a vendor of what the industry calls product lifecycle management solutions (PLM).
Such software is meant to help consumer packaged goods (CGP) companies automate managing critical information related to product design, development and introduction, global product specifications and packaging.
Streamlining product development operations across the enterprise and with supply chain partners helps organizations reduce time-to-market for new products by managing supplier relationships, quality, safety and regulatory requirements and reduce costs, Prodika claims.
"CPG is one of the largest untapped PLM markets, and currently has little penetration by packaged PLM solutions," Agile said in announcing the acquisition. "Food and beverage represents a significant percentage of the CPG market, which is showing signs of early adoption of PLM solutions resulting in double-digit improvements in product revenue and cost."
An April 2006 study by the Gartner Group stated that: "PLM solutions can identify quality issues early, preventing obsolete inventory, or worse, consumer returns due to dissatisfaction with branded products."
Agile's customers include Bayer, Herbalife and Playtex. Prodika's customers include companies such as Heinz, International Flavors and Fragrances and McDonald's.