Verdane and EQT announce intention to merge Confirmit and FocusVision
- Verdane and EQT to merge Confirmit and FocusVision to create a leader in the Market Research, Customer and Employee Experience industries
- The combined company will provide a one-stop-shop of complementary software solutions and offer greater benefits to existing and new customers
- Verdane and EQT are committed to invest in the combined company to support accelerated growth in North America and Europe
Verdane and EQT are pleased to announce the merger of their respective portfolio companies Confirmit and FocusVision, majority owned by EQT Mid Market US. The combined company will be led by Confirmit CEO Kyle Ferguson and supported by members of both the FocusVision and Confirmit management teams.
FocusVision offers a comprehensive suite of experience insights software solutions, including advanced survey, online interview and focus groups, and online qualitative research community solutions to get brands close enough to their customers to have a full understanding of Customer Truth™ – how they think, feel, and act.
Confirmit offers market research, customer experience and employee engagement software solutions to turn insight into stories that fuel action. Confirmit delivers the flexibility and power that customers need to understand and manage experiences, emotions, and behaviors so they are always one step ahead.
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.
Kyle Ferguson, Chief Executive Officer, Confirmit, said: “At Confirmit, we imagine a future where every action is initiated by the right decision at the right time. No data silos. No unknowns. Just accurate, visual insights, in real time, helping to make businesses smarter. This merger will make that a reality. We will create a world class organization that brings real value to our clients and colleagues alike.”
Chris Nagy, Chief Executive Officer, FocusVision, said: “The merger of Confirmit and FocusVision is a perfect fit and heralds an exciting, new dynamic for the global insights industry. We are complementary on every level and together we will be a great company, focused on excellence in everything we do.”
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.”
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.”
The transaction is conditioned on receipt of regulatory approvals and is expected to close in the second quarter of 2021.
Confirmit’s solutions are built by insights professionals, for insights professionals. Market Research, customer experience and employee engagement consultants around the world rely on our solutions to turn insight into stories that fuel action. The heart of our business is the people behind our technology, and we work as a partner to deliver the flexibility and power you need to understand and manage experiences, emotions, and behaviours so you are always one step ahead.
More info: www.confirmit.com
Established in 1990, FocusVision offers the most comprehensive suite of experience insights software solutions – including advanced survey, online interview and focus groups, and online qualitative research community solutions to get brands close enough to their customers to have a full understanding of Customer Truth™ — how they think, feel, and act. Trusted by 18 of the Top-20 Fortune 100 companies, and all of the Top-10 Healthcare and CPG companies, FocusVision was honored for its Outstanding Innovation in Customer Experience Management with MarTech Breakthrough Awards in 2018 and 2019.
More info: www.FocusVision.com
Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003 and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds have made over 120 investments into category leaders in digital consumer, energy & resource efficiency and software businesses. Based out of Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, the Verdane team is dedicated to being the preferred growth partner to tech-enabled businesses in Northern Europe.
More info: www.verdane.com
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EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com
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Pål Malmros, Partner
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