NEWS1 September 2021

WALR buys QuenchTec

Europe M&A News UK

UK – Market research technology business QuenchTec has been acquired by research technology startup WALR for an undisclosed cash sum.

Lewis Reeves

Lewis Reeves (pictured), formerly chief executive of Viga (later Savanta) and Patrick Fraser, formerly of Ipsos Mori and Critical Research, founded WALR in October 2020 to offer data collection services, customised surveys and data visualisation.

QuenchTec is headquartered in London, with offices in Oslo and Malmö. The company was formed from the merger of MARSC and MI Pro in 2016, and specialises in the automation of research processes.

Following the acquisition, QuenchTec’s staff will join WALR and the combined business will have a headcount of around 30 staff in six markets, including bases in the UK, US and Europe. The QuenchTec brand name will continue to operate initially.

Dietmar Walter, chairman of QuenchTec, will step down from the role but continue to advise the business.

The financial terms of the cash deal have not been disclosed.

Lewis Reeves, chief executive, WALR, said: “The bringing together of WALR and QuenchTec provides us with a great opportunity to continue innovating and providing clients with the very best solutions to enable them to focus on what makes them so successful.

“I’m thrilled to welcome the full QuenchTec team, excited about what we can build together and the role we can play in guiding our clients’ success in the ever-developing research tech arena.”

Simon Vaarning, chief technology officer, QuenchTec, added: “This deal is exciting for our employees as well as for all our clients. Our combined technology and market research expertise will allow us to bring a wider range of insights solutions to our clients and puts us in a strong position to address the significant growth and rapid change in our industry.”