ResponseTap acquired by global SaaS group
Salford-headquartered software company ResponseTap has been acquired by SaaS group Infinity.
Together, the companies have combined annual recurring revenues in excess of £15m and employ a team of 135 staff with plans to grow by at least 30% per annum, before acquisitions.
The acquisition will enable the enlarged SaaS group to increase its focus on innovation and offer its existing customer base, comprising 350 enterprise and more than 1,000 SME clients, a wider range of services.
The transaction was funded by existing shareholders, led by both its NEDs including Infinity co-founder Paul Walsh and Smedvig Capital, which originally invested in late 2016.
It was also supported by Claret Capital Partners with a new growth debt facility.
Warren Newbert, CEO at Infinity, said: “The past 18 months has seen considerable disruption to the economy across all verticals.
“This has accelerated the pace and scale of digital transformation as many businesses have doubled down on their digital strategy, and we have seen remote working for all staff including in contact centres.
“The role of a phone call in managing new leads, completing sales, and providing effective service, is crucial as part of owning and improving all inbound customer conversations.
“We have recently signed new partnership agreements with the digital giants, Google and Facebook, to further develop new products to ensure that our clients and partners have the actionable insights to allow them to invest in marketing, accelerate sales performance, and optimise the customer experience through effective operations. “
He added: “This acquisition broadens our product portfolio, and allows us to accelerate our investment into product, with the aim of increasing the impact of every phone call, adding insight to conversations and reaching more insightful conclusions.”
Barry Cochrane, Director of Operations at ResponseTap, said: “From the outset, our ambition was to create a world-leading call intelligence platform, helping marketers to understand which campaigns were driving inbound sales and how they could prioritise their most valuable callers.
“We’re immensely proud of what we’ve achieved at ResponseTap. Working with Infinity means we are well placed to continue our combined growth in the UK and internationally, while continuing to deliver the latest technology innovation to help our customers grow their businesses.”
