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WebSurveyor and Perseus Bought and Merged
Texas-based VC firm Austin Ventures has acquired and will merge two leading online survey software firms: Perseus Development Corporation and WebSurveyor. Former Greenfield Online CEO Dean Wiltse becomes Chairman and CEO of the combined entity.
Perseus is a provider of enterprise feedback management (EFM) solutions. David Lack, Venture Partner, Austin Ventures, says his firm's analysis identified the two as 'leaders and innovators' of the EFM and survey tools markets. 'Combining these two innovators establishes a single vendor offering the experience, technology, and resources to take full advantage of this swiftly growing market.'
Wiltse spent four years as CEO and President of Greenfield Online, presiding over rapid growth and a successful IPO, but left the firm in September last year to be replaced by corporate turnaround specialist Al Angrisani following the announcement of poor third quarter results (DRNO www.mrweb.com/drno/news4631.htm ).
Wiltse was previously President of the software division at Engage, Inc., where he led the development of the industry's first online profiling and ad-serving technology. He has also held senior management positions at other technology companies including Avid and Vivo Software.
Relishing his new role, Wiltse comments: 'The growth and success of Perseus and WebSurveyor are proof of the viability and opportunity within this market. Our objective is to build next generation online survey technology tools for the business professional, and the most comprehensive Enterprise Feedback Management platform for the enterprise. As the companies come together, the combined set of products and services will allow for 'total solution delivery' enabling our customers to manage and utilize feedback as they would any valuable corporate asset.'
Austin Ventures has $3 billion under management, with a focus on business services, information services, computer and communications hardware, and enterprise software - it is online at www.austinventures.com . The two acquired companies are online at www.perseus.com and www.websurveyor.com .
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