29 May 2012, London, UK – Just five years after its launch in the UK, Ibuildings UK is to split from its Netherlands-based parent company in a management buy-out (MBO) that will leave the business free to focus on UK-based expansion and growth.

The move comes at a time when industry analysts predict that the business use of open source technology is about to take off, driven by opportunities in big data analytics, data integration and business intelligence.

Ibuildings’ UK CEO Yair Spitzer and the Vice President of Sales and Marketing, Paul Wander, will remain in post and will lead the new organisation’s 80 employees and a growing portfolio of products and services. The company is being rebranded as Inviqa.

“We are very excited about this new beginning,” said Yair Spitzer, CEO of Inviqa. “Our long term vision is to be recognised and respected as the number one PHP company in the world, but our first commitment will be on providing continuity for existing customers in the UK and building the business to seize the potential of new opportunities. We will establish powerful joint ventures and partnerships to develop new products and solutions that enhance and deliver value for our customers.”

As Ibuildings, Inviqa has provided enterprise-level PHP development services to some of the UK’s largest and most innovative companies, including the BBC, Betfair Comic Relief, Virgin Media, Sony and Nokia. The company wants to use this experience to help promote the use of open source technology across all industry sectors.