QuestBack Announces Acquisition of Digium

OSLO, October 5, 2010 /PRNewswire/ --

- and Confirms Position as Undisputed Leading Provider of EFM in Europe -

QUESTBACK AS, an industry leader in Enterprise Feedback Management (EFM), http://www.questback.com today announced its acquisition of Digium Oy. The company expects to show a combined turnover of more than 22 MEUR for 2010, making it the incontestable market leader and authority in the European EFM market. The company is owned by the company's employees and Reiten & Co Capital Partners VII L.P., a fund managed by private equity company Reiten & Co.

The acquisition of Digium is a natural continuation of QuestBack's previous acquisitions; Easyresearch AB (Sweden) and Refleks AS (Norway). Both companies are now successfully integrated; adding value to QuestBack's daily operations. The agreement with Digium fits perfectly into QuestBack's earlier communicated plan of making acquisitions a significant part of the growth strategy.

"We have had our eye on Digium for several years, and now the timing was right for both companies", says Ivar Kroghrud, CEO of QuestBack. "We are thrilled to have Digium on board. We couldn't have found a better match, and by combining the strengths of our two companies, we will make a major leap towards our goal of becoming the world's preferred supplier of EFM services."

"QuestBack and Digium share a similar history and understanding of EFM, and we are very happy with this agreement", adds Matti Heikkonen, CEO of Digium. "We strongly believe that the consolidated company will create significant value for all of our customers, and continue to push the evolution of the industry."

Digium's CEO, Matti Heikkonen, will join the QuestBack management team, adding his experience with strategic partnerships and business development to the team's competencies. Digium will also strengthen and complement QuestBack in several other ways; market penetration, resources, competence and technology. The combined company will have the industry's most powerful R&D resources, with a major focus on driving the industry with user friendly, innovative solutions. In addition, the business combination will mean a significant strengthening of the customer facing team of highly skilled advisors. Over 4,000 existing customers will reap the benefits of increased resources.

QuestBack will continue to be a customer centric organisation - developing and distributing user friendly feedback and communication solutions. QuestBack customers use online questionnaires and email marketing to communicate with their stakeholders, include feedback in their business processes, and ultimately be enabled to make knowledge based decisions to improve performance. Future winners are the organisations who know their customers and stakeholders, and are able to create value by acting on that knowledge. QuestBack calls this Ask & ActTM. Examples of areas of usage are: customer satisfaction surveys, lead generation, campaign management, employee development surveys, management evaluations, website evaluations, and course & event management.

About QuestBack

QuestBack AS is Europe's leading provider of Enterprise Feedback Management and online surveys - web-based services for relationship development through the collection, analysis and follow-up of business critical information. Our clients achieve better financial performance through increasing the satisfaction and loyalty among their customers and employees. QuestBack is a Norwegian company, headquartered in Oslo, with offices in a total of 17 countries. http://www.questback.com

About Digium

Digium Oy is a Finnish company, founded in 1998, focusing on the development of browser-based data collection and feedback management services. Digium is the market leader in Finland, and also has a presence in Sweden and Denmark. The company has 1,000 corporate customers in more than 45 countries. More than 50% of Finland's Top 100 companies are using the service, including Nokia, Finnair, and the Finnish Government. For the past four years, Digium has been listed on the Deloitte Technology Fast100 EMEA, and has also for 2010 been awarded the Red Herring Top 100 Europe Tech Startup. The company is headquartered in Espoo, Finland.

http://www.digium.fi

SOURCE QuestBack