EY Belgium acquires CogniStreamer innovation platform

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Brussels, January 17, 2017 – EY Belgium today announced the acquisition of CogniStreamer, a Belgian company specializing in guiding collaborative innovation paths. This acquisition marks a further step for EY Belgium in the development of its offer of specialist consultancy services and enhances its expertise with regard to disruption and innovation.

CogniStreamer started out as a software tool to support the innovation process within R&D departments, back in 2011. The company provides specialist software and consultancy services in the field of innovation management. CogniStreamer facilitates a ‘collaborative innovation process’ - enabling colleagues, partners and knowledge centers to join forces and share, enhance and assess innovative ideas online, both within an organization and beyond company boundaries.

A structural approach to growth processes

We’re delighted with the new acquisition of CogniStreamer”, Rudi Braes, CEO and Chairman of EY Belgium, comments. “We’re constantly looking for new opportunities to optimize our services to our clients even further, especially in our growth areas such as innovation, digital technology, cyber security & business transformation”.

 “In our permanent quest for strategic growth opportunities, companies like CogniStreamer make logical partners”, says Thomas Sileghem, managing partner Advisory for EY in Belgium & the Netherlands. “In today’s disruptive world, we're increasingly finding that our clients expect a wide range of specialist consultancy services that go beyond the traditional offer. This acquisition enables us to satisfy some of these specific demands, and to capitalize on the digital transformation and the growing importance of big data.”

EY views open innovation as a major potential growth market. Structural management of the innovation process is vital for every company that wants to achieve long-term growth. Through the acquisition of CogniStreamer, EY expands its wealth of relevant knowhow. Thomas Sileghem: “CogniStreamer’s profile perfectly fits what we’re looking for in a partner. What’s more, our collaboration thus far has already more than demonstrated that we can strengthen one another.”

Capitalizing on Belgian knowhow internationally

Hein De Keyzer, CEO of CogniStreamer, also believes that a structural partnership benefits both parties. “Interest in our expertise and formula has grown over the last few years”, says Hein, who will also become a partner at EY. “In order to maintain this success in the future, we needed a strong, innovative partner on an international scale. By joining EY’s wide-reaching global network, we can give our international expansion a boost and also roll out our innovation software in EY’s global network. A particular advantage is that we can now support our clients in their innovation with the broad advisory service offered by EY”.

For the clients, this partnership will certainly have positive effects. “Having already collaborated on several projects, the EY consultants are already familiar with our colleagues, technology and software platforms. The addition of our specialist know-how to the broad range of consultancy services offered by EY can only benefit the client”, Hein De Keyzer affirms.

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About CogniStreamer

CogniStreamer is an open innovation and collaboration platform where internal colleagues and external partner companies or knowledge centers join forces to create, enrich and assess innovative ideas within strategically selected areas. The portal is an ideal collaborative platform that invites users to actively build a strong innovation portfolio. In addition it provides a powerful resource for internal and external knowledge sharing.