This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Innovaro Announces The Spinoff Of The Strategos Consulting Division

Stocks in this article: INV

Innovaro, Inc. (NYSE MKT:INV), The Innovation Solutions Company, today announced it has completed the spinoff of its Strategos Division as part of its continuing transition to a software and information led innovation solutions business. Since its origins in 1996, Strategos has consulted with corporate clients around the world, including 25 of the 30 Dow Jones Industrial Average companies, to help them build deep innovation capabilities and develop and execute creative, innovative strategies.

The spinoff creates a wholly independent company which will be known as Strategos, Inc. Innovaro will have no continuing involvement in the managerial decisions in Strategos, Inc. As part of the spinoff Innovaro will (i) make cash payments of approximately $150,000 and (ii) transfer assets with a book value of approximately $100,000. In return Strategos, Inc. will provide Innovaro with (a) a waiver on approximately $1.25 million of accrued bonuses due to personnel of Strategos and (b) earnout and royalty payments of 12.5% on any Strategos revenue that exceeds $10 million from August 31, 2012 until December 31, 2015.

Asa Lanum, Innovaro’s CEO, said, “We are pleased to have completed the agreement to spinoff our Strategos Division. The sale allows us to focus our investments on sales and marketing to promote the growth of our software and innovation solutions businesses which we believe offers significant growth opportunities. Further, we expect the sale will strengthen our balance sheet and help provide us with the financial wherewithal to extend our software capabilities and deliver additional solutions.”

Gary Getz, CEO of the newly formed Strategos, Inc., said, “We look forward to a strong ongoing relationship with Innovaro as we continue to exert our fullest efforts on behalf of our clients around the world. As a pure play consultancy, we will be able to present clients with a very clear value proposition based on the proprietary innovation and strategy principles, approaches, tools, and embedded know-how that clients can find only at Strategos. The rights to use this unique intellectual property, along with continued access to our treasured client relationships, are at the heart of why our management team jumped at the opportunity to establish Strategos, Inc. And as an additional benefit, we will continue to have access to Innovaro’s Intelligence and Insights capabilities and software offerings to support clients in their innovation journeys.”

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs