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Mindshare Technologies, a provider of Voice of the Customer technologies, has acquired Empathica, a provider of social Customer Experience Management solutions.
According to a news release, the acquisition establishes Mindshare as the largest VoC provider in the food services and retail industries. The move was financed in part by Sorenson Capital and Peterson Partners. Cascadia Capital served as Empathica's financial advisor in the transaction.
Empathica's social CEM and social media technology will be incorporated with Mindshare's VoC platform and text analytics solutions. With Empathica, Mindshare will serve more than 200,000 locations and business units worldwide.
Since inception, the companies will have collected more than 300 million customer reviews combined by the end of 2013. Mindshare will also expand its national and international footprint through Empathica's presence in both North America and Europe.
"In the age of the empowered customer, the ability to get strong, actionable feedback from each customer is becoming of paramount value to companies that want to drive business transformation and brand advocacy," said John Sperry, CEO of Mindshare. "The addition of Empathica is incredibly valuable in helping us make the voice of the customer that much more valuable in decision making among consumer-facing companies. This acquisition gives Mindshare the strongest customer feedback solutions – and the largest client base in the food services and retail sectors – as we continue to grow across many industries."
The company will continue to focus on its "Sample Size of One" approach, which ensures every individual's feedback is acted upon. In addition, the acquisition is expected to augment Mindshare's real-time feedback solutions and improve its ability to deliver actionable customer insights to all levels of management personnel, from front-line managers to executive teams.
"We are excited to join Mindshare and become the dominant player in the industry as a combined entity," said Mike Amos, founder and CEO of Empathica. "By gaining access to the deepest and widest range of insights in the market, we can empower companies to fully leverage their most valuable asset: their customers."
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