infoTECH Feature

October 04, 2011

QuestBack's Recent Acquisition of Globalpark Positions the Company as EFM Niche Player

QuestBack, a European provider of Enterprise Feedback Management (EFM) solutions, announced it has been positioned well in the industry following the recent acquisition of Globalpark and launch of Social CRM Tool.

The company was recognized by two leading analyst reviews in quick succession over recent weeks.  First, Globalpark was positioned as a Niche Player in Gartner’s (News - Alert) Magic Quadrant for Social CRM, 2011, ahead of its acquisition and integration into QuestBack‘s operations.

This recognition was swiftly followed by Gartner analyst Jim Davies’ (News - Alert) note, ‘QuestBack Acquires Globalpark to Strengthen European EFM Leadership’, 2011.

In August, TMCnet reported that QuestBack acquired Globalpark, a Social Customer Relationship Management (SCRM) provider, to become one of the leading global EFM suppliers.

The combined entity is likely to have a turnover of $56.7 million within its first year of operation. During the announcement QuestBack officials said the merger will position the companies as the indisputable leader in the European EFM market and one of the leading global EFM providers.

“We are delighted that Gartner has recognized Globalpark as a Niche Player for Social CRM,” said Ivar Kroghrud, QuestBack CEO, in a statement. “With QuestBack’s recent acquisition of Globalpark, our social media and Social CRM offering has been strengthened. Our customers will certainly benefit directly through the ability to capture the social customer’s voice in tandem with our existing EFM offerings.”

The Gartner’s Magic Quadrant for Social CRM, 2011 recognition evaluates vendors on criteria that measures their ability to execute, which is weighted heavily towards product or service; overall viability; sales execution or pricing; market responsiveness and track record; marketing execution; and customer experience, according to company officials.

According to Gartner, “Niche Players provide useful, focused technology, understand changing market dynamics and are working toward evolving their product capabilities.”

The report further states that hype around social applications by sales, marketing and customer service departments has exploded during the past two years as companies implemented social applications most as experiments or for tactical purposes.

The social CRM market is expected to reach over $1 billion in revenue by year-end 2012, up from approximately $525 million in 2010, Gartner said.

In his analysis titled, ‘QuestBack Acquires Globalpark to Strengthen European EFM Leadership’, 2011, Davies says, “The EFM marketplace has entered an accelerated phase of consolidation that will continue for the next 18 months. Interest in EFM from associated software markets such as CRM has begun to grow.”



Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.

Edited by Jennifer Russell
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