XL TechGroup and GEN3 Partners, Inc., the highly regarded US headquartered product innovation and technology development firm, have established GenXL LLC as a new strategic joint venture company, in order to provide a pathway to delivering even greater value for our shareholders.
XL TechGroup identifies many potential opportunities each year and creates one-to-two new disruptive companies per year from this “pipeline” which are expected to satisfy the minimum new business criteria of a liquid market valuation of at least US$400 million within four years.
However, this selection process also identifies numerous other prospects
with considerable potential value which will now be exploited by this new
value creation entity. GenXL will ensure the value of these opportunities
is fully captured by combining the best of both parent companies, our proven
methodologies and guaranteed business opportunity flows.
2 proven value creation methodologies
+ 2 guaranteed business opportunity flows
- Portfolio businesses
- point solitions / licensing opportunities
= new entity providing a pathway to deliver further additional value
for
XL TechGroup shareholders over and above the core business model
The collaboration will provide a pathway to even greater value for XL TechGroup
shareholders, over and above XL TechGroup’s core business model, by
producing a steady flow of new, self-generated businesses within the BioTech,
EcoTech, MedTech and Communications sectors. These will include new companies,
standalone product lines and technology licensing opportunities or an appropriate
mix of these.
XL TechGroup and GEN3 have each committed US$2 million to establish GenXL, and each company has appointed four directors to the board of GenXL. The Executive Chairman of GenXL is Jim Sims, who is the CEO of GEN3 which he co-founded in 1999. Mr Sims was the founder of Cambridge Technology Partners in Cambridge, Massachusetts which he led to annual revenue of US$620 million and a market valuation of US$2.5 billion. Mr Sims previously founded Concurrent Computer Corp which grew to US$340 million in annual revenue. Mr Sims is well known to the XL TechGroup senior management team, and is a valued member of the XL TechGroup advisory board.
GEN3 Partners is a product innovation consulting firm that dramatically improves the impact, predictability and productivity of product innovation. The firm provides a superior approach to product innovation through the GEN3: Innovation Discipline (G3:ID) and identifies the greatest opportunities and solves the technical barriers to achieving them. GEN3 has boosted innovation at Boston Scientific, Alcoa, Appleton, CR Bard, Honda, Toshiba, Nippon Chemi-Con and other leading companies around the globe. The firm is headquartered in Boston, USA, with additional locations in San Francisco, USA, Tel Aviv, Israel, and St. Petersburg and Moscow, Russia.
A new website for GenXL is under development