SAN DIEGO, May 8, 2018 /PRNewswire/ -- Seismic, the global leader in sales and marketing enablement, today announced that it has signed a definitive agreement to acquire SAVO Group, combining two of the major global sales enablement brands. The acquisition extends Seismic's position as the leading platform aligning sales and marketing teams to effectively engage buyers with the right information and content.
Seismic equips sellers with buyer-specific and dynamically personalized content and marketers with the most powerful set of content management tools available. The company has achieved at least 95 percent revenue growth and triple-digit net customer retention rates six years in a row to become the largest sales enablement provider. Through this transaction, Seismic will further accelerate product innovation by adding to its engineering and development teams that currently make up more than one-third of the company's workforce.
Founded in 1999 as the first sales enablement solution, SAVO Group has since grown into one of the few other providers to have a global footprint, serving enterprise customers across a wide array of industries, including technology, life sciences, and financial services firms. The company also acquired competing sales enablement solution KnowledgeTree in 2017. SAVO Group brings extensive sales enablement expertise and additional technological functionality to the new combined customer base.
"Sales enablement programs are having a huge impact on revenue for enterprises because they take everything off the plate of the seller, allowing them to focus on building the best relationships with buyers," said Doug Winter, co-founder and CEO of Seismic. "However, they require an equally powerful sales enablement solution to really see it through. In that regard, today's announcement puts even further space between Seismic and the rest of the sales enablement market."
The new combined entity will serve more than 500 enterprise customers worldwide. SAVO Group adds customers such as Stryker, BMC Software, Miller Heiman and Canon Europe, joining Seismic's complementary customer roster of large organizations which includes Getty Images, NCR, Capital One, Illumina, and T. Rowe Price. Additionally, the acquisition of SAVO Group gives Seismic an increased foothold in European markets, adding to the company's international efforts which included a successful launch in Australia in 2017. Total headcount for Seismic will increase to more than 450 across eight offices in the United States, Europe, and Australia.
The acquisition follows a successful 2017 for Seismic which saw the company achieve 97 percent revenue growth and 118 percent net customer retention. The company also grew the total number of customers in key industries such as technology and life sciences by more than 100 percent and now boasts 15 of the 25 top asset management firms as customers.
"We are excited to be joined by SAVO Group's customers and team as we embark on this next exciting phase of Seismic's growth," said Winter. "Regardless of industry or geographic location, the need to ensure that sellers are interacting with buyers in the most beneficial and productive way possible has become recognized as a boon to accelerating sales cycles."
For more information on Seismic and the benefits of a sales and marketing enablement solution, visit the company's website at https://seismic.com/solution/.
Seismic is the leading global sales and marketing enablement solution, improving close rates and delivering larger deals for sales while increasing marketing's impact on the bottom line. Large enterprises use Seismic to increase sales productivity through the automatic distribution of relevant information and personalized content to reps for any buyer interaction. Powerful content controls and visibility into usage ensures brand integrity and reduces risk. Seismic's machine learning and analytics capabilities continuously improves the entire enablement process for large enterprises, increasing the ROI of sales content and tying it directly to revenue. Headquartered in San Diego and with more than 450 employees across the globe, Seismic is privately held by its executive team and investment firms General Atlantic, JMI Equity, and Jackson Square Ventures.
To see how Seismic is being used by firms in your industry, visit http://www.seismic.com.
PR Manager, Seismic