Daily Research News Online no. 7045 - Confirmit Posts 34% Growth as Merger Completes

Confirmit Posts 34% Growth as Merger Completes

July 13 2007

MR software companies Confirmit and Pulse Train have completed their previously announced merger and announced increased revenue of 34% and pre tax profit of 65% for the second quarter 2007.

The newly combined business, which is retaining the name Confirmit, says that the merger will make it the second largest market research and enterprise feedback management (EFM) software vendor on the market (www.mrweb.com/drno/news6826.htm ).

CEO Henning Hansen explained that he had seen an increasing trend in companies looking to standardise on a single vendor and believes that the firm is now well positioned to deliver against that requirement.

The position of Chief Strategy Officer is taken by Pulse Train's CEO Pat Molloy, who is tasked with leading product strategy. He brings 25 years of MR experience having previously been Operations Director at NOP and MD of Quantime, and held roles at TNS where he introduced Confirmit into the business.

Molloy commented: 'Having now thoroughly reacquainted myself with the technology I'm even more impressed by the result of the company's continued investment in R&D.'

Confirmit will integrate Pulse Train products and technologies into its platform and says that the combined strengths of the two product portfolios will deliver the 'most complete, feature-rich and robust set of applications in the industry'.

Second quarter results show increased revenue to $6.1 million, and pre tax profit amounting to $558,000. Hansen commented: 'We've had a strong performance in the second quarter of 2007 and delivered strong growth in both our key markets, EMEA and North America. With the recent acquisition of Pulse Train, we are in a unique position to increase our market share in the MR and EFM software market.'

The company has more than 200 employees and offices in Oslo (its headquarters), Guildford, London, Moscow, New York, San Francisco, and Yaroslavl. Its home page is www.confirmit.com.