Cloud marketing company Seismic acquires key competitor
Seismic has acquired one of its main competitors, Savo Group.
Seismic claims Savo Group was the first sales enablement platform when it entered the market in 1999. Since then, the company has grown to establish a global footprint to serve enterprises across a range of industries, including technology, life sciences and financial services.
Savo Group acquired competitor KnowledgeTree in 2017, and brings a number of key customers to Seismic in the deal. These include Stryker, BMC Software, Miller Heiman and Canon Europe.
Total headcount for Seismic will increase to more than 450 across eight offices in the United States, Europe, and Australia.
Seismic co-founder and CEO Doug Winter comments on the deal, stating: “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.”
“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 acquisition follows a successful 2017 for Seismic which saw the company achieve 97% revenue growth and 118 percent net customer retention.
Winter adds, “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.”
“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.”