Verdane and EQT to merge FocusVision and Confirmit
Verdane and EQT are to merge 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 behaviours so they are always one step ahead.
The merger will harness the scale and scope of two complementary organisations 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, says: “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 organisation that brings real value to our clients and colleagues alike.”
Chris Nagy, Chief Executive Officer, FocusVision, says: “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, says: “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, says: “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.