Former Toluna execs Mark Simon and Lowell Ricklefs have just advised on the sale of employee listening platform TINYpulse to employee wellbeing firm Limeade, through their mergers and acquisitions (M&A) advisory consultancy Traction Advising.
Simon previously spent thirteen years at Toluna, latterly as its MD for North America, before which, he worked for Greenfield Online as Client Development Director, while Ricklefs spent five years as Group Chief Operating Officer at Toluna (sold to a private equity firm for $260m) and three as Chief Revenue Officer for GMI (sold to WPP for $100m). Their company, Traction Advising, which focuses on helping organizations sell their businesses, offers consultancy services for small technology companies. Specifically, it can help businesses to identify the right financial and strategic buyers, position the seller as an extension of the buyer's business or platform, and help buyers build their internal business case to make acquisitions.
Traction Advising has just acted as an advisor for Limeade's acquisition of TINYpulse, which offers employee survey and sentiment analysis tools and a solution called Engage for taking the pulse of a workforce. Under the terms of the deal, Limeade has agreed to merge with TINYpulse for $8.8m in exchange for 100% of the issued capital of the latter firm. Previously, Traction Advising provided support for Forrester's acquisition of machine learning-based consumer video poll platform GlimpzIt, as well as for multiple other projects across other verticals.
Riklefs comments: 'Congratulations to TINYpulse and Limeade. Traction Advising is proud to work for TINYpulse as the firm's M&A advisor and help them join forces with Limeade - great companies that will leverage listening to increase wellness. Two great companies - two great cultures and two great leaders.'
Web sites: www.tractionadvising.com , www.tinypulse.com and www.limeade.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.