CVC Credit Partners becomes sole lender to Horizon Capital’s Sabio

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The refinancing of the existing debt facility allows CVC Credit Partners to support Sabio in its next stage of growth

CVC Credit Partners is pleased to announce that it has provided a unitranche loan and a dedicated acquisition facility to Sabio, a leading customer experience solutions provider and managed services business, backed by Horizon Capital.

Founded in 1998 and headquartered in the UK, Sabio is a global provider of customer engagement technology and managed services, to blue chip enterprise clients. Sabio helps brands optimise contact centre operational performance and improve the customer experience, structures and strategies. The business operates from 11 offices and employs just over 500 people. Sabio Group is backed by Horizon Capital who invested in 2016 and have supported the business’s tripling in size over the past three years.

Simon Hitchcock, Managing Partner at Horizon, commented: “The refinancing in partnership with CVC Credit means that Sabio can continue its successful organic growth, underpinned by an experienced and supportive lender. Securing this significant new committed acquisition facility means we are able to accelerate the buy and build strategy and in the coming months we expect to complete a number of acquisitions from a strong pan European pipeline.”

Jonathan Gale, CEO of Sabio Group said: “With Horizon and CVC backing the business, Sabio is ideally positioned to continue our growth strategy, building a strong footprint in primary European markets and adding technology and skills to our portfolio. This is an exciting move for Sabio and enables our ongoing strategy to bring the very latest in AI powered, self-service and channel agnostic customer engagement solutions to our fantastic, growing, client base.”

Chris Fowler, Managing Director in CVC Credit Partners’ European Private Debt business, added: “Sabio is a leading technology provider, which operates in a large and growing market driven by increasing investment in digital automation and analytics. Its loyal client base yields high renewal rates and reliable recurring revenues. With Horizon’s backing, Sabio has grown strongly in recent years and we are now pleased to support the business on its next stage of development.”

ClassPass raises $285 million to accelerate international growth and scale corporate program

Apax Digital

8 January 2020

L Catterton and the Apax Digital Fund Lead Series E Round 

NEW YORK, NY, January 8, 2020: ClassPass, the leading global fitness and wellness marketplace, today announced the close of a $285 million Series E investment. The round, which was led by L Catterton and Apax Digital, with additional participation by existing investor Temasek, follows the successful expansion by ClassPass into 28 countries and the signing of more than 1,000 leading employers into its corporate wellness program.

Founded in 2013, ClassPass pioneered the modern-day fitness and wellness marketplace. Today, ClassPass partners with more than 30,000 boutique studios, gyms and wellness providers, offering members access to the largest global network of wellness-inspired experiences. The investment will enable ClassPass, which now has over 650 employees across five continents, to continue rapidly scaling its proprietary reservation and booking technology across the globe. ClassPass’s superior model and technology have made it the marketplace of choice for providers who leverage ClassPass’ advanced machine learning capabilities to maximize their revenue and optimize utilization.

“We are motivated by the impact we’ve had on members and partners, including 100 million hours of workouts that have already been booked. This investment is a significant milestone that will further our mission to help people stay active and spend their time meaningfully,” says Founder and Executive Chairman Payal Kadakia.

As part of the investment, Marc Magliacano, Managing Partner at L Catterton’s Flagship Fund, and Daniel O’Keefe, Managing Partner at Apax Digital, will join the ClassPass Board of Directors.

“This fundraise is a reflection of our proven and sustained success in the U.S. and our rapid adoption internationally. In 18 months, we’ve scaled from 4 to 28 countries. Even in our recently launched European markets, our partners consistently call us their #1 driver of new customer reservations,” said Fritz Lanman, ClassPass CEO. “Our goal is to be the brand of choice and clear leader in every country we enter. This investment will allow us to expand more rapidly within existing geographies, add more countries to our network, and scale our corporate program globally. Additionally, I am thrilled to welcome two new board members with incredible domain expertise in digital subscription businesses and the fitness industry more broadly.”

L Catterton has deep experience working with leading fitness brands, including tech-enabled brands such as Peloton, Hydrow, and Tonal, as well as studio and fitness club brands, including Xponential Fitness, Equinox Holdings, Pure Barre, CorePower Yoga, Will’s Gyms (China), and BodyTech (Latin America). Apax has significant experience helping digital marketplace and consumer subscription businesses scale globally.

“As an investor in a number of highly respected studio and fitness club brands, we have seen firsthand how ClassPass providers and members mutually benefit from the ClassPass relationship,” said Mr. Magliacano. “ClassPass has continuously evolved its model to meet the changing needs of both partners and users. The ClassPass credits model, when combined with its A.I. tools, allows studios significant flexibility in monetizing their excess inventory and generates more revenue for studios than any other aggregator. We are confident that ClassPass is poised to grow into one of the most prominent wellness brands of the new decade and we couldn’t be more excited to continue to partner with Fritz and his team.”

“Apax has a long history of backing leading global marketplace businesses, and ClassPass is the tenth such investment to date. We’ve known the company since its early days and have been continually impressed by its global brand, attractive customer and studio value propositions, and history of explosive growth,” said Mr. O’Keefe. “We are excited to leverage the Apax global footprint to help ClassPass continue to accelerate its international traction.”

About ClassPass

Founded in 2013 by Payal Kadakia, ClassPass is the world’s most flexible network of fitness and wellness experiences. Members gain instant access to over 30,000 pre-vetted global exercise studios, which offer diverse fitness options including yoga, cycling, Pilates, strength training, boxing and more. In addition to workouts, members can instantly book inspiring wellness experiences, such as massages, acupuncture and spa treatments. ClassPass simplifies the discovery process, using machine learning to provide catered recommendations to each member based on their goals and preferences. ClassPass also lifts the fitness industry, working directly with studio partners to merchandise their excess inventory, find new customers and generate new streams of revenue. Learn more at http://classpass.com.

About LCatterton

With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton’s team of more than 190 investment and operating professionals partner with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH, and Groupe Arnault. For more information about L Catterton, please visit www.lcatterton.com.

About Apax Digital

The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of $50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About Temasek

Temasek is an investment company with a net portfolio value of US $231 billion (S$313 billion) as of March 31, 2019. Our Temasek Charter roles as an investor, institution and steward shape our investment stance, ethos and philosophy, to do well, do right and do good. Our investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. We actively seek sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. Headquartered in Singapore, we have 11 offices around the world, including New York, San Francisco and Washington, D.C. For more information on Temasek, please visit www.temasek.com.sg.

Media Contacts:

For ClassPass

Mandy Menaker | mandy.menaker@classpass.com

For L Catterton

Andrea Rose / Julie Oakes / Andrew Squire
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449

For Apax Digital / Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For Temasek

Paul Ewing-Chow | paulewingchow@temasek.com.sg

Aedan Lai | aedanlai@temasek.com.sg

 

Verint announces plan to separate into two independent publicly traded companies

Apax

Also announces $200 million minority investment by funds advised by Apax Partners in support of Verint’s separation plan; additional $200 million to be invested post separation

New $300 Million Share Buyback Program Over Period Through Closing of Separation

MELVILLE, N.Y., December 4, 2019: Verint® Systems Inc. (NASDAQ: VRNT), today announced that its Board of Directors has unanimously approved proceeding with a plan to separate Verint into two independent companies: one of which will consist of its customer engagement business, and one of which will consist of its cyber intelligence business. Verint expects to complete the separation shortly after the end of Verint’s next fiscal year ending January 31, 2021.

“With our customer engagement business approaching $1 billion in annual revenue and our cyber intelligence business approaching $500 million in annual revenue, we believe the two independent, publicly traded companies will both benefit from the separation and be well positioned to pursue their own strategies, drive opportunities to accelerate growth and extend their market leadership. The separation will make it easier for investors to evaluate and make independent investment decisions in each business. In preparation for the separation, we have taken steps over the last several years to strengthen the two businesses operationally and believe we are now well positioned to execute our separation plan,” said Dan Bodner, Verint CEO.

Separation Details

Verint intends to implement the separation through a pro-rata distribution of common stock of a new entity that will hold the cyber intelligence business and expects the distribution to qualify as tax free to Verint shareholders for U.S. federal income tax purposes. The completion of the transaction is subject to certain customary conditions, including final approval of the Verint Board of Directors, receipt of tax opinions from counsel as well as rulings from the Internal Revenue Service and the Israeli Tax Authority with respect to tax treatment to Verint and its shareholders, and effectiveness of a registration statement to be filed with the U.S. Securities and Exchange Commission. The separation is not expected to require a shareholder vote. The separation structure is subject to change based upon various tax and regulatory factors and there can be no assurance that any separation transaction will ultimately occur or, if one does occur, of its terms or timing.

Investment by Funds Advised by Apax Partners

Funds advised by Apax Partners (the “Apax Funds”), a global private equity advisory firm, have agreed to invest up to $400 million in Verint, subject to customary closing conditions including the receipt of required regulatory clearances. The Apax Funds have significant experience in the software sector, including through previous investments in TriZetto, Plex Systems, RealPage, Sophos, Epicor and Exact Software. The investment will be made in the form of convertible preferred stock in two tranches of $200 million each. The first tranche is targeted to close in our first quarter ending April 30, 2020.  The second tranche, conditioned on and expected to close shortly following the separation (expected shortly after the end of Verint’s next fiscal year ending January 31, 2021), will be made into Verint, the entity holding the customer engagement business.

Mr. Bodner added, “Apax Partners has a proven track record of creating value by partnering with leading software companies around the world, including significant experience in both carve-outs and cloud transitions. The investment represents a strong vote of confidence in our strategy and future growth opportunities.”

In connection with the closing of the first tranche of the investment, Jason Wright, Partner at Apax Partners, will be appointed to Verint’s Board of Directors.  At the closing of the second tranche, the company will add a mutually agreed upon independent Director to Verint’s Board.

Mr. Wright said, “We are excited to partner with Verint and help the Company complete the separation, enabling both businesses to achieve their full potential. Verint’s Customer Engagement business is a market leader and we look forward to working with management to execute its cloud strategy and extend its market leadership.”

Under the investment agreement, the Apax Funds will initially purchase $200 million of Series A convertible preferred stock with an initial conversion price of $53.50, representing a conversion premium of 17% percent over the volume-weighted average price of the Company’s common stock over the 45 day period prior to the signing date.  The Series A convertible preferred stock will not participate in the spin-off of the cyber intelligence business but will have its conversion price adjusted and will remain invested in the entity holding the customer engagement business.  Shortly following the separation, the Apax Funds will purchase, subject to certain conditions, up to $200 million of  Series B convertible preferred stock with an initial conversion price based on the volume-weighted average price of the Company’s common stock over a 20 day period following the separation, subject to a collar on the minimum and maximum enterprise value of the company post separation.  Both the Series A and Series B will have an initial dividend rate of 5.2% dropping to 4.0% over time.  Assuming both the Series A and the Series B are issued on the expected timeframe and remain outstanding for 8.5 years from their respective dates of issuance, the average dividend rate on the combined investment will be approximately 4.5%.  Following the closing of the Series A investment, the Apax Funds’ ownership in Verint on an as-converted basis will be approximately 5%. Assuming completion of the Series B investment and the separation, the Apax Funds’ ownership on an as-converted basis will be between 11.5% and 15.0%.

Additional information may be found in the Form 8-K that will be filed today with the U.S. Securities and Exchange Commission.

Share Buyback Program

Verint today also announced that our Board of Directors has authorized a new share repurchase program whereby we may repurchase up to $300 million of common stock over the period ending on February 1, 2021 (on or shortly before the planned business separation). Repurchases are expected to be financed with the proceeds of the first tranche of the Apax Funds investment and available cash, including possible borrowings under our revolving credit facility. We may utilize a number of different methods to effect the repurchases, including but not limited to, open market purchases and accelerated share repurchases, and some of the repurchases may be made through Rule 10b5-1 plans. The specific timing, price, and size of purchases will depend on prevailing stock prices, general market and economic conditions, and other considerations, including the amount of cash available in the U.S. and other potential uses of cash. The program may be extended, suspended or discontinued at any time without prior notice and does not obligate us to acquire any particular amount of common stock.

Customer Engagement and Cyber Intelligence Leadership

We believe that both our businesses are leaders in their respective markets and the separation will enable them to achieve even better performance over the long term, as the two companies will have:

  • separate boards with further differentiated skillsets to support tailored strategic plans;
  • specific incentive programs more closely aligned with standalone business performance;
  • capital structures tailored to the unique characteristics of each business; and
  • enhanced appeal to a broader set of investors suited to the strategic and financial characteristics of each company.
Customer Engagement Business Highlights

  • Market leader
  • Approaching $1 billion of annual revenue
  • Cloud transition opportunity
Cyber Intelligence Business Highlights

  • Market leader
  • Approaching $500 million of annual revenue
  • Software model transition opportunity

Mr. Bodner concluded, “Today’s announcements are consistent with our commitment to creating value for our shareholders. We have built two strong, but increasingly distinct businesses, and we believe that separating these two businesses at this stage of their evolution will allow each to unlock its full potential.  Our customer engagement business will continue to focus on helping organizations elevate customer experience while reducing costs and our cyber intelligence business will continue to focus on helping make the world a safer place.”

Jones Day is serving as legal advisor to Verint and Jefferies LLC is acting as financial advisor to Verint.Kirkland & Ellis LLP is serving as legal advisor to Apax Partners.

About Verint Systems Inc.

Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization and cyber intelligence. Today, over 10,000 organizations in more than 180 countries—including over 85 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we’re creating A Smarter World with Actionable Intelligence® at www.verint.com.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Cautions About Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, any of which could cause our actual results or conditions to differ materially from those expressed in or implied by the forward-looking statements. Some of the factors that could cause our actual results or conditions to differ materially from current expectations include, among others: uncertainties regarding the impact of general economic conditions in the United States and abroad, particularly in information technology spending and government budgets, on our business; risks associated with our ability to keep pace with technological advances and challenges and evolving industry standards; to adapt to changing market potential from area to area within our markets; and to successfully develop, launch, and drive demand for new, innovative, high-quality products that meet or exceed customer needs, while simultaneously preserving our legacy businesses and migrating away from areas of commoditization; risks due to aggressive competition in all of our markets, including with respect to maintaining revenues, margins, and sufficient levels of investment in our business and operations; risks created by the continued consolidation of our competitors or the introduction of large competitors in our markets with greater resources than we have; risks associated with our ability to successfully compete for, consummate, and implement mergers and acquisitions, including risks associated with valuations, reputational considerations, capital constraints, costs and expenses, maintaining profitability levels, expansion into new areas, management distraction, post-acquisition integration activities, and potential asset impairments; risks relating to our ability to properly manage investments in our business and operations, execute on growth initiatives, and enhance our existing operations and infrastructure, including the proper prioritization and allocation of limited financial and other resources; risks associated with our ability to retain, recruit, and train qualified personnel in regions in which we operate, including in new markets and growth areas we may enter; risks that we may be unable to establish and maintain relationships with key resellers, partners, and systems integrators and risks associated with our reliance on third-party suppliers, partners, or original equipment manufacturers (“OEMs”) for certain components, products, or services, including companies that may compete with us or work with our competitors; risks associated with the mishandling or perceived mishandling of sensitive or confidential information, including information that may belong to our customers or other third parties, and with security vulnerabilities or lapses, including cyber-attacks, information technology system breaches, failures, or disruptions; risks that our products or services, or those of third-party suppliers, partners, or OEMs which we use in or with our offerings or otherwise rely on, including third-party hosting platforms, may contain defects, develop operational problems, or be vulnerable to cyber-attacks; risks associated with our significant international operations, including, among others, in Israel, Europe, and Asia, exposure to regions subject to political or economic instability, fluctuations in foreign exchange rates, and challenges associated with a significant portion of our cash being held overseas; risks associated with political factors related to our business or operations, including reputational risks associated with our security solutions and our ability to maintain security clearances where required, as well as risks associated with a significant amount of our business coming from domestic and foreign government customers; risks associated with complex and changing local and foreign regulatory environments in the jurisdictions in which we operate, including, among others, with respect to trade compliance, anti-corruption, information security, data privacy and protection, tax, labor, government contracts, relating to our own operations as well as to the use of our solutions by our customers; challenges associated with selling sophisticated solutions, including with respect to assisting customers in understanding and realizing the benefits of our solutions, and developing, offering, implementing, and maintaining a broad and sophisticated solution portfolio; challenges associated with pursuing larger sales opportunities, including with respect to longer sales cycles, transaction reductions, deferrals, or cancellations during the sales cycle, risk of customer concentration; challenges associated with our ability to accurately forecast when a sales opportunity will convert to an order, or to accurately forecast revenue and expenses, including as a result of our Customer Engagement segment cloud transition and our Cyber Intelligence segment software model transition, and increased volatility of our operating results from period to period; risks that our intellectual property rights may not be adequate to protect our business or assets or that others may make claims on our intellectual property, claim infringement on their intellectual property rights, or claim a violation of their license rights, including relative to free or open source components we may use; risks that our customers delay or cancel orders or are unable to honor contractual commitments due to liquidity issues, challenges in their business, or otherwise; risks that we may experience liquidity or working capital issues and related risks that financing sources may be unavailable to us on reasonable terms or at all; risks associated with significant leverage resulting from our current debt position or our ability to incur additional debt, including with respect to liquidity considerations, covenant limitations and compliance, fluctuations in interest rates, dilution considerations (with respect to our convertible notes), and our ability to maintain our credit ratings; risks arising as a result of contingent or other obligations or liabilities assumed in our acquisition of our former parent company, Comverse Technology, Inc. (“CTI”), or associated with formerly being consolidated with, and part of a consolidated tax group with, CTI, or as a result of the successor to CTI’s business operations, Mavenir, Inc., being unwilling or unable to provide us with certain indemnities to which we are entitled; risks relating to the adequacy of our existing infrastructure, systems, processes, policies, procedures, internal controls, and personnel, and our ability to successfully implement and maintain enhancements to the foregoing, for our current and future operations and reporting needs, including related risks of financial statement omissions, misstatements, restatements, or filing delays; risks associated with changing accounting principles or standards, tax laws and regulations, tax rates, and the continuing availability of expected tax benefits; risks associated with market volatility in the prices of our common stock and convertible notes based on our performance, third-party publications or speculation, or other factors and risks associated with actions of activist stockholders; risks associated with the planned issuance of preferred stock to Apax Partners, including with respect to Apax’s significant ownership position and potential that their interests will not be aligned with those of our common stockholders; and risks associated with the planned spin-off of our Cyber Intelligence business, including the possibility that the spin-off transaction may not be completed in the expected timeframe or at all, that it does not achieve the benefits anticipated, or that it negatively impacts our operations or stock price.  We assume no obligation to revise or update any forward-looking statement, except as otherwise required by law.  For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2019,  our Quarterly Report on Form 10-Q for the quarter ended April 30, 2019 and our Quarterly Report on Form 10-Q for the quarter ended October 31, 2019, when filed, and other filings we make with the SEC.

VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, CUSTOMER ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, GI2, FIRSTMILE, OMNIX, WEBINT, LUMINAR, RELIANT, VANTAGE, STAR-GATE, TERROGENCE, SENSECY, and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or its subsidiaries.  Verint and other parties may also have trademark rights in other terms used herein.

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MAPAL and Flow Hospitality Announce Combination

Providence

MAPAL and Flow Hospitality Announce Combination to Create a Leading Pan-European Provider of Technology Solutions for the Hospitality Sector

MADRID AND EDINBURGH – 20 December 2019 – MAPAL Software (“MAPAL”), a developer and supplier of workforce management, business analytics and back-of-house software for the hospitality sector, and Flow Hospitality Training (“Flow”), a learning management system for the hospitality sector, today announced a combination to create a leading provider of technology solutions for the European hospitality sector. MAPAL is backed by Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity Partners. Jorge Lurueña, Founder and CEO of MAPAL, will lead the combined entity with the support of the existing management teams of MAPAL and Flow. Ruth and David Wither, Founders of Flow, will step down from their day to day leadership responsibilities – but have reinvested in the combined entity, with David remaining as a Non-Executive Director.

“Today’s announcement is a testament of the hard work and commitment of the entire team at Flow since we launched over 10 years ago,” said David Wither, Co-Founder of Flow. “Together we have built an outstanding business that innovatively solves a major challenge faced by the industry: a need for relevant technology that accelerates employee training and development. We are confident that this combination with MAPAL – supported by the team at PSG – will enable the business to make an even greater impact going forward and Ruth and I have decided that now is the right time to transition the stewardship of Flow to new investors. We are excited for what the future holds – and we believe that Jorge, with the support of our current management team, is the ideal leader to help Flow and MAPAL transition to this next chapter.”

Flow delivers a suite of online training modules to over 400,000 unique users through FlowZone Manager – its flagship management system that allows employers to issue training, track results, plan and manage learning and development, competencies and appraisals. The benefits of this combination between two highly complementary businesses are significant. MAPAL’s advanced and user-friendly workforce management, analytics and back-of-house solution – and Flow’s learning and development solutions – will create a business that can offer stronger technical capabilities and a more robust end-to-end service to hospitality companies throughout Europe.

Jorge Lurueña, Founder and CEO of MAPAL, said: “We believe this alliance will create more opportunities for Flow and MAPAL. Ruth and David have built a tremendous business – offering a complete solution that brings real benefit to its loyal client base – and we are grateful for the trust they have placed in us. I look forward to working with my new colleagues and am thrilled to be leading this next phase of growth.”

Edward Hughes, Managing Director of PSG, said: “MAPAL and Flow are already established providers of tech-enabled solutions for a variety of global companies in the hospitality sector and we are confident that together they will create a significantly scaled-up business with a larger suite of capabilities and reach to provide essential solutions to customers.”

EY’s UK Corporate Finance team was sole financial adviser to the shareholders of Flow, and originated the transaction.

About MAPAL Software
MAPAL was founded in 2008 by Jorge Lurueña, an experienced restaurant operator, who recognised that restaurant businesses needed specialist tools to automate and optimise management processes. Bringing together industry experts, data scientists and software developers to create GIRnet, the management and business intelligence platform that key players in the sector use today, has driven MAPAL’s success. MAPAL boasts a large portfolio of clients operating well-known brands such as La Tagliatella, Burger King, Starbucks, KFC, Taco Bell, Pizza Hut, Grupo Areas or Five Guys, among others.

About Flow Hospitality Training
Founded in 2009 by David and Ruth Wither and based in Edinburgh, Scotland, Flow is a learning management system for the hospitality sector staffed by a team of over 55 people. Flow’s flagship FlowZone Manager platform enables employers to have direct and immediate visibility to all stages of employee development. FlowZone Manager can be integrated to employers’ HR and payroll systems – especially Fourth, Selima, S4 Labour, CoreHR, and TimeTarget – and is relied upon by leading hospitality brands, including Soho House, Firmdale Hotels, and Gleneagles.

About Providence Strategic Growth Capital Partners LLC
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, with offices in London. For more information on PSG, please visit www.provequity.com/private-equity/psg, and for more information on Providence, please visit www.provequity.com.

Media Contacts

Flow Hospitality Training
Exchange Tower, Edinburgh
+34 917681560
enquiries@flowhospitalitytraining.co.uk

MAPAL Software
C/ Arte 21 – 28033 Madrid
+34 917681560
admin@mapalsoftware.com

Providence Strategic Growth
Sard Verbinnen & Co
Conrad Harrington/ Giles Bethule
+44 207 4671 050
Prov-SVC@SARDVERB.com

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Glovo grabs €150M SERIES E led by Mubadala for its ‘Deliver Everything’ APP

Seayaventures

The Spanish on-demand delivery start-up reaches unicorn status after securing €150M in Series E funding, led by Mubadala.

The latest round of investment sees Glovo consolidate its position in the market and cement its status as a global leader in the on-demand delivery sector, as it moves towards profitability.

Barcelona, 20 December 2019Glovo, one of the world’s fastest-growing on-demand delivery players, announced €150 million ($167 million) in Series E funding. The latest round of investment is being led by Mubadala, with further support from previous investors Drake Enterprises, Idinvest and Lakestar.

Following the close of its most recent investment round, the company has secured its status as a unicorn, making it only the second privately held business in Spain to surpass a $1 billion valuation.

The Barcelona based start-up — which delivers everything from food to groceries and pharmaceutical items —  has consolidated its position within its markets, which include Europe, Latin America and Africa. It is among the top two delivery players in 24 of the 26 countries in which it operates and has consolidated itself as a global leader in the on-demand delivery sector.

Fuelling technology talent across European tech hubs 

As Glovo scales globally, it is committed to taking its engineering capabilities and technology systems to the next level. The company recently entered the Polish market, acquiring Pizza Portal in a €35 million deal and investing in a second technology hub in Warsaw. It plans to expand its global tech team by hiring 300 additional engineers by mid-2020, with 40 dedicated engineers and 50 tech and product experts to be based in its new Warsaw office.

By channelling the new investment towards the expansion of its tech team, the start-up will continue to strengthen its tech offering by further streamlining its user experience, reducing the waiting time for couriers and customers, and opening new dark stores and cook rooms.

More focus on groceries and partnerships with leading retailers

Glovo will continue to innovate in the delivery sector and build out its multi-category offerings, delivering beverages, pharmaceutical products and other everyday items. To spur on the growth of its groceries category, Glovo will continue to seek strategic partnerships, similar to its deal with Carrefour, and invest in its own dark supermarkets.

The company currently operates seven dark stores in Europe and Latin America — with locations in Barcelona, Madrid, Buenos Aires and Lima — and plans to open 100 by 2021.

Oscar Pierre, Co-founder and CEO of Glovo, said: “We’re very pleased to welcome Mubadala as an investor, as well as to further strengthen our position within the industry.

“To have achieved unicorn status is something truly exciting and a testament to the talent within the company, and its determination to keep innovating and disrupting the on-demand delivery space. Despite our rapid growth and new status, we still have the same vision we’ve always had: to make everything within the city instantly available to our customers.”

Frederic Lardieg, Partner in the Ventures Europe team at Mubadala Capital, said: “In June 2018, Mubadala launched a €400 million fund to invest in leading European technology companies like Glovo. Our investment is a testament to our commitment to the European tech market and we are excited to lead this Series E funding round to enable Glovo to grow its team and support the expansion of its offering.”

About Glovo 
Glovo is an app that allows you to buy, collect and send any product within the same city in under an hour. It has more than 1.8 million active users monthly and 25,000 associated partners. Glovo operates in 288 cities across 26 countries, including EMEA, LATAM, and most recently in Sub-Saharan Africa. Glovo currently employs over 1,500 people globally, with 600+ in the Barcelona HQ, and over 50,000 active Glovers make money from the platform.

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi.

Mubadala’s US $229 billion portfolio spans five continents with interests in multiple sectors including aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings across all asset classes. Mubadala has offices in Rio de Janeiro, Moscow, New York and San Francisco, with a joint venture in Hong Kong.

Mubadala is a trusted partner, an engaged shareholder and a responsible global company that is committed to world-class standards of governance.

About Seaya Ventures
Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams from Spain and Latin America since 2013. Seaya focuses on supporting founders in scaling their businesses enabling them to become global leaders.

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Median Technologies announces the signing of a € 35 million finance contract with the European Investment Bank (EIB)

Abingworth

18 December 2019, Sophia Antipolis, France – Brussels, Belgium

Press release – For immediate release – 05:45pm CET

 Median Technologies announces the signing of a € 35 million finance contract with the European Investment Bank (EIB)

  • This finance contract will enable Median Technologies to accelerate its investment program for the iBiopsy® imaging phenomics platform
  • Median expects the disbursement of the first tranche of € 15 million during the first semester of 2020

Median Technologies, The Imaging Phenomics Company (Euronext Growth – ALMDT) and the European Investment Bank (EIB) announced today the signing of a € 35 million finance contract, supported by the European Strategic Investment Fund (EFSI) or “Juncker Plan”. News about ongoing negotiations for this loan was previously released on May 15, 2019.

This financing, divided into three (3) tranches, will enable Median Technologies to enhance and accelerate its iBiopsy® imaging platform investment program for the coming years. Median is a cutting-edge AI and data sciences technology provider for precision medicine. Through its proprietary iBiopsy® platform, Median is developing non-invasive imaging biomarkers to enable the identification of certain chronic disease – including cancer- signatures, to dramatically enhance early detection, severity quantification and monitoring of diseases. The objective is on one hand to guide clinicians in their therapeutic decisions in the context of precision and predictive medicine and, on the other hand, to provide disruptive decision tools to foster medical innovations and new therapy development.

Median will request the disbursement of the first tranche of € 15 million during the first semester of 2020. The contract then provides for the disbursement of the second and third tranches (of € 10 million each) in the coming years, at Median Technologies’ discretion, subject to the completion of certain conditions precedents specified in the finance contract. The repayment of this financing will occur, in a single installment, at the end of a five -year period after the disbursement date. The finance contract is supplemented by the payment of various interests and fees and by a guarantee granted by Median Technologies, Inc. (Median Technologies’ US subsidiary).

Pursuant to the warrants issuance agreement, Median Technologies will issue 800,000 warrants for the benefit of the EIB on the date of disbursement of the first tranche and, where appropriate, 300,000 additional warrants on the date of disbursement of the second tranche, at a subscription price of € 0.01. The exercise price of these warrants  will be determined based on the price of one or more fundraising(s) of at least € 15 million carried out within 15 months after the subscription date to which an increasing discount will apply based on time, with a minimum of € 2 from the 16th month. The lifespan of these warrants is 15 years.

The warrants issuance agreement includes an exercise parity adjustment clause which could apply, under certain conditions,in case of capital increase. The EIB will be granted with the possibility, under certain conditions, to request Median Technologies to buy back its warrants for a maximum amount of € 50 million and, beyond that amount, to find a buyer and pay interests on the price of the remaining warrants. The total amount of warrants (for the two tranches) would represent up to 7.44 % of the share capital fully diluted.

The objective of this financing, granted by the EIB together with the European guarantee within the framework of the Juncker plan, is to support research and innovation projects developed by companies with substantial growth potential. Median Technologies meets these criteria as its technologies have the potential to impact the lives of hundreds of thousands of patients worldwide.

The agreement was signed by the European Investment Bank and Fredrik Brag, CEO and co-founder of Median Technologies on December 18, 2019.

“Through the Juncker Plan impulse, EIB has become a key player in financing innovative companies, in particular companies involved in the domains of Health and Artificial intelligence, which are the core activities developed by Median Technologies “, said EIB Vice-President, Mr. Ambroise Fayolle

Fredrik Brag, CEO and co-founder of Median Technologies added: We are very pleased to announce the signing of the finance agreement with the European Investment Bank. The EIB financing will allow us to accelerate our investment in the development of our iBiopsy® platform with a strong focus in oncology and liver disease. We are the next generation precision medicine company focused on helping conquer cancer and other diseases through our proprietary routine imaging tests.  These novel non-invasive imaging tests could dramatically impact early detection, diagnosis and monitoring of diseasesWe leverage our capabilities in technology, artificial intelligence, clinical development, regulatory and reimbursement to drive the development and commercial adoption of our future iBiopsy® product line, improve patient clinical outcome and lower healthcare costs.”     

Forward-Looking Statements: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts. These statements include projections and estimates and their underlying assumptions, statements regarding plans, objectives, intentions and expectations with respect to future financial results, events, operations, services, product development and potential, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and similar expressions. Although Median’s management believes that the expectations reflected in such forward looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Median, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include among other things, the uncertainties inherent in research and development, future clinical data and analysis, including post marketing, decisions by regulatory authorities such as the absence of guarantee that the service if approved will be commercially successful, the future approval, Median’s ability to benefit from external growth opportunities, to complete related transactions and/or obtain regulatory clearances, risks associated with intellectual property, trends in exchange rates and prevailing interest rates, volatile economic conditions, the impact of cost containment initiatives and subsequent changes thereto, the average number of shares  outstanding as well as those discussed or identified in the public filings with the AMF made by Median, other than as required by applicable law, Median does not undertake any obligation to update or revise any forward-looking information or statements.

About Median Technologies

Median Technologies provides innovative imaging solutions and services to advance healthcare for everyone. We leverage the power of Imaging Phenomics to provide insights into novel therapies and treatment strategies. Our unique solutions for medical image analysis and management in oncology trials and iBiopsy® for imaging phenotyping, together with our global team of experts, are advancing the development of new drugs and diagnostic tools to monitor disease and assess response to therapy. Median Technologies supports biopharmaceutical sponsors and healthcare professionals around the world to quickly and precisely bring new treatments to patients in need. This is how we are helping to create a healthier world.

Founded in 2002, based in Sophia-Antipolis, France, with a subsidiary in the US and another one in Shanghai, Median has received the label “Innovative company” by the BPI and is listed on Euronext Growth market (ISIN: FR0011049824, ticker: ALMDT).

Contacts

Median Technologies

Emmanuelle Leygues
Head of Corporate Communications
+33 6 10 93 58 88
emmanuelle.leygues@mediantechnologies.com

Actifin  (Investors)

Ghislaine Gasparetto
+33 1 56 88 11 11
ggasparetto@actifin.fr

Alizé RP  (Press)

Caroline Carmagnol
+33 6 64 18 99 59
median@alizerp.com

About the European Investment Bank (EIB) and the Juncker Plan

Created by the Treaty of Rome in 1958, the EIB is the EU bank, which, together with its dedicated SME support subsidiary the European Investment Fund (EIF), forms the EIB Group. The EIB Group provides its financing and know-how for sound and sustainable investment projects meeting EU objectives.

Supported by its expertise and the financial attractiveness lent by its AAA rating, the EIB Group is a key player in getting investment back on track in Europe. It supports the real economy while also attracting other investors by financing concrete projects with an impact on people’s lives. EUR 8.6bn of new financing was allocated to support high quality growth and job driving projects in France in 2017.

Website: www.eib.org/press

The Investment Plan for Europe:  the so-called Juncker Plan, is one of Jean-Claude Juncker’s top priorities. It focuses on boosting investments in Europe to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing greater visibility and technical assistance to investment projects. The European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe, enables the EIB Group to invest in more, often riskier, projects with high added value. EFSI is already showing concrete results. The projects and agreements approved for financing under EFSI so far have mobilised EUR 408.4bn in investments, of which EUR 69bn is in France. The plan is supporting around 952 000 SMEs across all 28 Member States.

Contacts

Cyrille Lachèvre
+ 33 (0)6 20 42 12 08
c.lachevre@ext.eib.org

K1 Sells Buildium, Category Leader in Property Management Software

K1

LOS ANGELES, December 18, 2019K1 Investment Management, LLC (“K1”), a leading investment firm focusing on high-growth enterprise software companies, today announced the sale of its portfolio company, Buildium LLC (“Buildium”), category leader in SaaS real estate property management software, to RealPage, Inc. (NASDAQ: RP), a global real estate technology platform.

K1 was the first institutional investor in Buildium, partnering alongside the company’s co-founders, Michael Monteiro and Dimitris Georgakopoulos. Since K1’s initial investment, Buildium’s revenues have grown more than 10x and its customer base has more than tripled.

“We decided to partner with K1 as our first investor after their team reached out to us directly and built a relationship with our business for more than a year,” said Michael Monteiro, co-founder of Buildium. “K1’s track record in building exceptional software companies gave us confidence that they were the right partner to help Buildium reach its next stage of growth.”

With K1’s partnership, Buildium made significant investments to grow its headcount, strengthen its go-to-market efforts and expand its product portfolio. Additionally, Buildium leveraged K1’s sector specialization, sourcing capabilities and operational expertise to complete and integrate two add-on acquisitions.

“We are proud of the market-leading product and customer experience that Buildium provides to property managers worldwide and are grateful for our longstanding partnership with K1 to help realize this vision,” said Dimitris Georgakopoulos, co-founder of Buildium. “The K1 team has been a trusted partner and advisor to Buildium as it has grown into a true category leader in real estate technology.”

Additionally, K1 is an active participant and proud sponsor of Buildium’s community causes, including its team’s participation in Bike MS, an annual bike ride from Boston to Provincetown which is organized by the National Multiple Sclerosis Society to raise funds for MS treatment and awareness.

“When we first invested in Buildium in 2012, K1 saw a company with a mission-critical product and compelling fundamentals where we could help accelerate growth and solidify the company’s market leadership,” said Taylor Beaupain, Managing Partner at K1. “Since then, we have had the privilege to partner with an exceptional management team focused on delivering the best to its customers, employees, investors and community, and look forward to seeing what the team will accomplish next.”

About K1

K1 builds category-leading enterprise software companies. As a global investment firm, K1 assists high-growth businesses to achieve successful outcomes. K1 invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. With over 85 professionals, K1 changes industry landscapes by assisting with operationally-focused growth strategies. Since inception of the firm, K1 has partnered with over 115 enterprise software companies including category leaders such as Apttus, Buildium, Checkmarx, ChiroTouch, Chrome River, Granicus, Rave Mobile Safety, RFPIO, Smarsh, WorkForce Software and Zapproved. For more information about K1, please visit http://www.k1capital.com or http://www.linkedin.com/company/k1im.

SOURCE: https://www.prnewswire.com/news-releases/k1-sells-buildium-category-leader-in-property-management-software-300977270.html?tc=eml_cleartime

BC Platforms Closes USD $15 million Series C Financing and Signs Partnership with IQVIA to extend Data Analytics in Genomics

Tesi

Investments in companies18.12.2019

BC Platforms, a world leader in genomic data management and analytics, today announced that it has closed a 15 million USD financing round alongside a new commercial partnership with IQVIA™ (NYSE: IQV). The round was led by IQVIA in conjunction with Debiopharm Innovation Fund and Tesi, a Finnish venture capital and private equity company. As part of the partnership, IQVIA and BC Platforms plan to launch new data driven technologies, integrating complex clinical and genomic data, to benefit transformational research.

IQVIA and BC Platforms have a shared vision to build a world leading analytics platform to enable the pharmaceutical industry’s advancement of precision medicine, improving the efficiency of drug development and patient outcomes. BC Platforms technology will enhance IQVIA’s E360™ Genomics – a scalable, privacy-preserving genotypic-phenotypic database solution – in supporting a federated data network of genomic related analytics while ensuring patient privacy.

BC Platforms will use the fundraising proceeds to expand its global network of clinical and genomics data, delivering novel automated solutions to pharmaceutical companies. To date, the company has established partnerships with approximately 100 enterprise level healthcare systems and biobanks globally in 25 countries and has recently established an entity in Singapore to spearhead its growing activities in Asia.

Tero Silvola, CEO at BC Platforms, said: “IQVIA and BC Platforms aim to combine genomic and clinical data assets around the world. IQVIA´s E360™ Genomics is built on patented techniques that allow us to build data access without compromising data privacy and security in any situation. Together with IQVIA´s deep healthcare expertise in managing and curating real-world data, we believe that we can accelerate precision medicine initiatives for patient benefits. This funding and commercial partnership will help accelerate our growth in serving healthcare and Life Science customers as well as connecting data partners in a global, interoperable federated network.’

Rob Kotchie, President, Real World Solution, IQVIA, said: “Drawing insights from integrated clinical-genomics data is a growing need of our life science and healthcare customers. Through the combination of BC Platforms technologies – which automates the workflow from genomic instruments to actionable insights – with IQVIAs leading real-world technologies platform we can enable customers to conduct novel research and discover new insights to advance healthcare.”

Tom Gibbs, Director at Debiopharm, commented: ‘We are dedicated supporters of innovation and believe that digital health and data accessibility are going to be key drivers of future healthcare research and development. We are delighted to be supporting BC Platforms, a leader in the field of genomic data management, in the next stage of their expansion and are excited by the potential of this collaboration with IQVIA.’

As part of its investment, IQVIA will have a designee on the BC Platforms’ Board of Directors.

Tesi’s Investment Manager Joni Karsikas comments: “The pharmaceutical industry and healthcare are operating in active partnership that is becoming ever closer. The pricing of pharmaceuticals, for instance, is more often being based on their impact. That requires genomic data to be combined with various clinical data registers. Patients will receive the most suitable and correctly-timed medications, and the system will charge for them according to the treatment results. We are very pleased that we can support BC Platforms, a pioneer in genomic data management, in the next stage of its expansion.”

Contact information:

BC Platforms, Tero Silvola, CEO, + 358 40 590 5733, tero.silvola@bcplatforms.com

IQVIA, Rob Kotchie, President Real World Solutions, + 44 20 3075 5705, Rob.Kotchie@iqvia.com

Tesi, Joni Karsikas, Investment Manager, +358 40 827 0395, joni.karsikas@tesi.fi 

 

About BC Platforms

BC Platforms is a world leader in providing powerful genomic data management and analysis solutions. Our high performing genomic data management platform enables flexible data integration, secure analysis and interpretation of molecular and clinical information. The company has launched and opened a global network of biobanks, known as BCRQUEST.COM, to provide genomic and clinical cohort data for pharmaceutical and medical research and development. BC Platforms’ vision is to build the world’s leading analytics platform for healthcare and industry by 2020, providing access to diverse genomic and clinical data and samples from more than 5 million subjects consolidated from a global network of biobanks.

Founded in 1997 from an MIT Whitehead project spinoff, the Company has a strong scientific heritage underpinned by over 20 years of working in close collaboration with a network of leading researchers, developers, manufacturers and vendors. BC Platforms has global operations with its headquarters in Zurich, Switzerland, research and development in Espoo, Finland, and sales and marketing in London, Boston, Vancouver and Singapore. For more information, please visit www.bcplatforms.com or follow us on Twitter @BCPlatforms.

About IQVIA

IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. Formed through the merger of IMS Health and Quintiles, IQVIA applies human data science — leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science — to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation and accelerate improvements in healthcare outcomes. Powered by the IQVIA CORE™, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities. With approximately 65,000 employees, IQVIA conducts operations in more than 100 countries.

IQVIA is a global leader in protecting individual patient privacy. The company uses a wide variety of privacy-enhancing technologies and safeguards to protect individual privacy while generating and analyzing information on a scale that helps healthcare stakeholders identify disease patterns and correlate with the precise treatment path and therapy needed for better outcomes. IQVIA’s insights and execution capabilities help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures. To learn more, visit www.iqvia.com.

About Tesi

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of renewing economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 1.2 billion euros. Ambition for ownership and success www.tesi.fi | www.dtg.tesi.fi | @TesiFII

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Verto Analytics and Unacast announce Partnership

OpenOcean

Verto Analytics Expands in Location and POI Data Enrichment with a Single-Source Behavioral Panel, Selects Unacast’s Turbine Location Engine

Verto Analytics launches new research solutions to help understand the overlay of online usage and offline foot traffic with a panel-based measurement solution – Unacast will process Verto’s 1st-party location data to improve Verto’s data enrichment.

New York City, NY, USA

December 16, 2019, 9am NYC time

New York, NY – Unacast, an award-winning and industry-leading location data and strategic insights company, is pleased to announce a new partnership with Verto Analytics, a premier market research and behavioral research platform. Verto Analytics will use Turbine, Unacast’s Platform as a Service technology, as part of its new solutions built to process and turn location data into valuable information around place visitation in the offline world. In this collaboration, the parties process Verto’s 1st party location data to provide contextualized insights on how people move around in the physical world – without being dependent on any 3rd party sources, and solely based on Verto’s proprietary deterministic market research opt-in panel data.

 

Figure – Verto’s behavioral panel gives information on US commercial visits in the physical world for the purposes of advanced market research and media measurement.

 

Through this partnership, Verto is positioned to gain a competitive edge with improved accuracy and scope of their location data. Verto’s new solutions in this area are the first panel-based and opt-in based framework that assesses how people move around in the offline world around the clock, while being able to connect that information to insights/metrics around online usage. Further, the insights that can be derived from footfall patterns will provide a more comprehensive view of human mobility and contextualization of mobile and PC device usage across apps, web sites, e-commerce, shopping journeys, streaming media usage etc. Through this process, Verto’s data will more accurately reflect the depth of insights on consumer behavior by tying online behavior of offline actions, which will further solidify them as the trusted provider for cross-device behavioral information.

We have a lot of passive location data collected with high cadence that we wanted to leverage to understand consumer behavior at a deeper level, so we searched for a company that has the expertise and experience to interpret all of this information,” says Dr. Hannu Verkasalo, Verto Analytics’ Founder and CEO. “Unacast is a pioneer in the location data space, and after testing the accuracy and quality of their data and the transparent insights they provided, we knew we had found the right fit – a data partner who can keep up with Verto’s evolving business challenges, and be able to expand from high level home/work/on-the move classification to detailed point of interest data to power stronger insights and newer capabilities in custom research and consumer journey analytics .

 

Figure – Verto’s panel data makes it possible to understand consumer visitation in commercial places. Eating out is one of the top categories in Verto’s day-to-day behavioral measurement

Turbine is Unacast’s platform for advanced data filtering and clustering. It enables clients to understand device activity and context for mobility patterns. This data is coupled with other signals to provide a transparent and complete picture of real world behavior while maintaining user privacy.

“We see a lot of companies who sit on petabytes of 1st party location, GPS, WiFi and cell tower data, but are not doing anything meaningful with it – that’s a lost opportunity to extract potential value and insights,” says Thomas Walle, CEO and Co-Founder at Unacast. “We built Turbine to allow companies to leverage the Unacast technology to provide them with location data insights. We are pleased to announce that one of the best known panel-based research companies, Verto Analytics, has started using our product as part of their research work!”

 

About Verto Analytics

Verto Analytics is a media measurement company that offers a holistic view of  consumers—their behavior, along with demographics, lifestyles, attitudes, and interests. Verto owns and operates single-source, passively metered panels in different countries; this gives us the power to measure behavioral changes over time across all media, second by second. Brands, publishers, and researchers can use Verto’s services to benchmark against competitors and the market, fill in the gaps in the consumer journey, and identify ways to increase engagement and loyalty. Verto’s behavioral research platform equips market researchers with deep, passive meter data solutions and the application of triggered surveys on top of the panel. Verto has been awarded in many categories over the years, in market research, including the Winner of Technology Breakthrough Award at Media Excellence Awards

 

About the Real World Graph®

The Real World Graph® is an interconnected system of data sets that understands human mobility in the physical world using a combination of map data, location data, and strategic insights. The Real World Graph® leverages a quality data set with the highest privacy standards and power multiple real estate developers, retailers, city planners and many other companies to build better products and make better decisions.

 

About Unacast

Unacast is an award-winning human mobility data company that harnesses anonymous device location data, map data, and strategic intelligence to tackle business challenges for the retail, real estate, tourism, transportation, and marketing industries. With its flagship product “The Real World Graph®”, it provides innovative solutions and insights to operational challenges for companies of any size or shape. Unacast was founded in 2014 with offices in New York and Oslo, Norway. In 2019, Unacast was awarded the #1 small company to work in NYC for by Built In NYC and received Street Fights’ Most Innovative Use of Geospatial Technology award.

 

All trademarks contained herein are the property of their respective owners.

 

For more information:

https://www.vertoanalytics.com

Contact:

Hannu Verkasalo

+1 (347) 223 1856

hannu.verkasalo(at)vertoanalytics(dot)com

https://www.unacast.com

Contact:

John Bobis

+1 (646) 300 0708

john.bobis(at)Unacast(dot)com

This news was first published on Verto´s news page: https://vertoanalytics.com/verto-analytics-expands-in-location-and-poi-data-enrichment-with-a-single-source-behavioral-panel-selects-unacasts-turbine-location-engine/

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Cegeka reinforces international position by acquiring KPN Consulting

GIMV

Cegeka and telco company KPN have agreed to sell KPN Consulting to Cegeka. KPN Consulting, which comprises all activities of KPN ICT Consulting and Call2, offers a wide array of bespoke ICT advice and support services regarding, among other things, ICT strategy, cloud services, and data analysis. The transaction fits into Cegeka’s Northern Europe growth strategy. This acquisition will see the Hasselt-based IT company double its turnover in the Netherlands, making it one of the country’s biggest IT service providers. KPN Consulting employs 750 staff and 250 contractors.

As part of the transaction, KPN and Cegeka will partner up to ensure services to KPN customers continue without interruption. According to the terms of this partnership, Cegeka will continue to provide advice and support services to KPN as its preferred provider.

Karim Henkens

“KPN Consulting’s services integrate seamlessly into the portfolio of Cegeka’s Dutch branch, presenting us with a strategic advantage. Customers can count on Cegeka as a reliable IT partner helping them to remain relevant in a quickly evolving digital world. The operation lets us strengthen our market position in the Netherlands, allowing us to keep on growing.”

Karim Henkens, Managing Director Netherlands, DACH and Nordics.

KPN Consulting’s services will be continued under the Cegeka name. For KPN, this transaction is in line with its strategy to speed up corporate simplification and to focus on its most important ICT services in the B2B market.

“This is an important step for Cegeka in our continuing international growth. Thanks to this acquisition, our activities in the Netherlands are now the same size as those in Belgium, dovetailing perfectly with our strategy. Also, local embeddedness is a strategic means for us to be closer to our customers, with additional presence in the north and west of the Netherlands.”

Stijn Bijnens, CEO Cegeka Group.

 

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