UL Signals Strategic Expansion into Performance Benchmarking Services with Futuremark Acquisition
Purchase accelerates UL's expansion into software-based testing services for computers, mobile devices and consumer electronics
NORTHBROOK, Ill., Nov. 3, 2014 /PRNewswire/ -- UL, a global safety science leader, today announced the acquisition of Futuremark, the market leading provider of performance benchmarking software. Futuremark, a privately held company based in Finland, develops the world's most widely used benchmarks for desktop computers, notebooks, tablets and smart phones. The acquisition marks UL's entry into the software development industry, a strategic imperative for the company to help meet the growing demand for performance data.
"Embedded software is now an important part of product design. With an increased focus on mobility, we see more and more products being connected, making the Internet of Things a reality. Consequently, software quality is a significant driver of product safety and performance; and we believe that benchmarking is an important way to help our customers to improve the performance of their products," said Stephen Kirk, VP and GM of UL Consumer Technology Division. "This acquisition provides us with an opportunity to build a new business line in testing a wide variety of technological devices so they offer the performance, safety and privacy that consumers expect."
Market demand for benchmarking services is driven by intense global competition to improve product performance and competitive differentiation. In addition, empowered users are seeking more data to assess new products during purchase consideration.
Futuremark has been developing industry standard benchmarks since 1997. Today, Futuremark receives a new benchmark result every four seconds on average.
UL plans to increase investment in Futuremark's product development, expanding the range and depth of the company's benchmark offering. In addition, Futuremark will tap UL's global scale and resources to expand into Asia and develop new market opportunities for its products and services.
"In recent years, we've expanded on to new platforms, our software has been adopted by the European Commission and national governments, and we've welcomed more of the world's leading technology companies into our Benchmark Development Program," said Jukka Mäkinen, CEO, Futuremark. "We've accomplished a lot on our own, but with UL, we're in an even better position to achieve our goals."
Futuremark's focus on creating outstanding benchmarks will continue with UL's support and investment. Futuremark's 39 employees, including CEO Jukka Mäkinen, will join UL and remain with the company.
"Both UL and Futuremark have a longstanding tradition of neutrality and independence," added Kirk. "I think this common cultural trait makes the two companies a great fit for each other, our employees and our customers."
The transaction closed on October 31, 2014.
About UL
UL is a premier global independent safety science company that has championed progress for 120 years. Its more than 10,000 professionals are guided by the UL mission to promote safe working and living environments for all people. UL uses research and standards to continually advance and meet ever-evolving safety needs. We partner with businesses, manufacturers, trade associations and international regulatory authorities to bring solutions to a more complex global supply chain. For more information about our certification, testing, inspection, advisory and education services, visit http://www.UL.com.
About Futuremark
Futuremark develops the most authoritative and widely-used performance benchmarking software in the industry for desktop computers, notebooks, tablets, smart phones and browsers. Its benchmarks enable people to measure and compare the performance of the hardware and devices they depend on every day. Futuremark works in cooperation with many of the world's leading technology companies to develop industry standard benchmarks that are relevant, accurate and impartial. It maintains the world's largest and most comprehensive hardware performance database, using the results submitted by millions of users to help consumers make informed purchasing decisions. Futuremark's headquarters are in Finland, just outside the capital, Helsinki. For more information, please visit, http://www.futuremark.com.
Michelle Press
PR Manager, UL
847-664-1966
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SOURCE UL
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