QuestBack AS, the leading European provider of Enterprise Feedback Management (EFM) services has announced the acquisition and merger of a German originated company Globalpark. Globalpark was founded in 1999 and has grown quite rapidly. At the moment of the acquisition, the company has also high profile clients such as Continental, Daimler, Nintendo, Sony Music and Bosch to name a few. Questback has been acquiring companies in Europe at an increasing pace in the last few years.
Towards the end of last year, QuestBack made our headlines when it acquired Finnish based Digium Enterprises, a the leading provider of EFM services in Finland.
No details of the financials regarding the arrangement were released, but it is surely one of the biggest acquisitions QuestBack has done. Combined company revenue in the first year of operations together is expected to reach 40 million euros. According to QuestBack press release, this will position the company as the indisputable leader in EFM services in Europe.
Few reasons that clearly speak for the acquisition of Globalpark are QuestBack’s growth strategy and the position of Globalpark in the European market. Globalpark was the largest provider of panel, community and corporate feedback management solutions including a successful expansion to the social CRM space with their Social Insight Connect -product.
Secondly, the acquisition puts QuestBack in a better position regarding their expansion to the US.
Ivar Kroghrud, QuestBack CEO, says, “The company’s presence in important geographical markets, as well as their industry -renowned team will significantly benefit QuestBack’s presence and positioning. […] They also give us the powerful platform we need to go after the very high end of the market, and gives us a real competitive edge for the important US market . Globalpark is already successfully established in the US. This gives us an excellent starting point for our expansion in the US – a central part of QuestBack’s continued growth strategy.”
It’s great to see Questback doing the acquiring from the Nordics and growing instead of getting acquired by bigger players. I’m sure the company will become one of the largest players on a global scale in the coming years in its own industry.