Seismic Acquires SAVO Group
Seismic will acquire fellow sales and marketing enablement solutions provider SAVO Group. Financial terms of the deal were not disclosed
Founded in 1999, SAVO Group has a global footprint, serving companies across a wide array of industries, including technology, life sciences, and financial services. The company also acquired KnowledgeTree, a competing sales and marketing enablement provider, in 2017.
The new combined entity will serve more than 500 companies worldwide. The acquisition also gives Seismic an increased foothold in Europe following 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.
"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, in a statement. "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."
"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," he continued. "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."
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