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Online Specialist Bought
Web-based customer research supplier Vividence Corporation has recently been acquired by Keynote Systems, a provider of e-business performance management services, for approximately $20 million in cash.
This marks Keynote's eleventh acquisition in a little over four years, and gives the company access to over 250+ Vividence customers, including the likes of Citibank, Clear Channel Entertainment, eBay, FedEx, Microsoft, Timberland, USA Today, Williams Sonoma and Yahoo!
The acquisition will also enhance Keynote's existing WebEffective Intelligence Platform (WIP), which measures and improves e-business performance by delivering online market research, usability and Web analytics in an integrated service.
Under the terms, an additional $6.0 million is payable upon achievement of certain targets by September 30, 2005. Fifty people will join Keynote from Vividence, bringing the total number of Keynote employees to approximately 240.
'Understanding how and why customers behave as they do in an online environment with the continuing goal to improve the customer's experience and improve conversion rates is an absolute mission critical requirement for e-business', according to Keynote Chairman and CEO Umang Gupta.
Keynote, which styles itself 'The Internet Performance Authority(r)', is online at www.keynote.com . Vividence's web site is at www.vividence.com
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