Survey software firm QuestBack acquires Globalpark

Terms of the deal were not disclosed, but Norwegian newspaper Dagens Næringsliv estimated the price at between €19m and €31m, based on the price-to-earnings ratios of similar businesses.

Oslo-based QuestBack said the deal would make it one of the leading global providers of enterprise feedback management (EFM). The firm said Globalpark would give it a strong foothold in the US market, as well as capabilities in social media CRM through its Social Insight Connect tool, which is used to engage with audiences on Facebook.

Globalpark, which has its headquarters in Germany and offices in the US and the UK and Austria, will become part of the QuestBack group, retaining its name for the moment. The company said it would be “business as usual as far as customers are concerned”. The company’s clients include Daimler, Bosch, Warner Music and Nintendo.

Globalpark’s CEO Lorenz Gräf will join the group management of QuestBack with responsibility for the Globalpark business. Gräf said the merger was “a great step” for the company, which would create an “unbeatable combination”.

Ivar Kroghrud (pictured), QuestBack’s CEO, said: “[Globalpark’s] presence in important geographical markets, as well as their industry-renowned team will significantly benefit QuestBack’s presence and positioning. A key goal is to develop our social media and social CRM offerings. Globalpark helps us to achieve this. They also give us the powerful platform we need to go after the very high end of the market, and gives us a real competitive edge for the important US market. Globalpark is already successfully established in the US. This gives us an excellent starting point for our expansion in the US – a central part of QuestBack’s continued growth strategy.”

QuestBack said in a statement that it expects the merged company to achieve revenue of more than €40m in its first year.