Research software firms Confirmit and FocusVision have announced plans to merge. The deal is dependent on receipt of regulatory approvals and expected to complete in the second quarter. Terms have not been disclosed.
Headquartered in Norway, Confirmit has additional offices in the UK, US, Russia, Canada and Australia. The firm was sold to private equity fund Verdane last year, and provides solutions for customer experience, employee experience and market research. NY-based FocusVision, which also has offices in California, Connecticut and Oregon, as well as London and Bulgaria, offers a suite of experience insights software solutions - including for advanced surveys, online interviews and focus groups - as well as online qual community solutions.
According to the firms, the combined group is expected to create a 'one-stop-shop' of complementary solutions offering greater benefits to customers; while accelerating innovation and investment in technology solutions; data collection, analytics and reporting capabilities. The companies' infrastructure and technology capabilities will be combined, and their complementary geographical footprint promises better service for the expanded customer base.
Kyle Ferguson, CEO of Confirmit, says the merger will create a 'truly world class, leading edge organisation, that brings real value to clients and colleagues alike'. FocusVision CEO Chris Nagy adds: 'The merger of Confirmit and FocusVision is a perfect fit and heralds an exciting, new dynamic for the global insights industry. Customers can expect their needs to be exceeded. We are complementary on every level and together we will be a great company, focused on excellence in everything we do'.
STOP PRESS: the owners of the two companies have issued a statement with more details - unedited paragraphs from this as follows:
EQT and Verdane are pleased to announce the merger of their respective portfolio companies FocusVision, majority owned by EQT Mid Market US, and Confirmit. The combined company will be led by Confirmit CEO Kyle Ferguson and supported by members of both the FocusVision and Confirmit management teams.
The merger will harness the scale and scope of two complementary organizations and enable the combined business to provide better solutions to its customers on a global basis. Together, EQT and Verdane will support investments in best-of-breed technology solutions, ranging from data collection to reporting and action capabilities, and accelerate innovation initiatives. Moreover, the two companies will combine their digital infrastructure and technology capabilities, which will increase efficiencies and deliver new opportunities to the benefit of both existing and new customers.
Hajo Krösche, Managing Director and Investment Advisor at EQT Partners, said: 'The merger of FocusVision and Confirmit will create a leading Research Technology player with a significantly stronger suite of solutions in Europe and North America. The merger creates a scalable platform to invest further into growth and technology to further improve the value add to our customers. We are excited about the opportunities this merger presents'.
Pål Malmros, Partner at Verdane, said: 'This acquisition will be transformative for FocusVision and Confirmit and an exciting step toward delivering an even more comprehensive end-to-end technology solution. We are excited to support the management team in this merger as we believe this combination will allow the combined company to deliver even greater value to its customers'.
Web sites: www.confirmit.com and www.focusvision.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.