NowVertical Group Inc., a big data, analytics and vertical intelligence software and services company, announced that it has completed its previously announced acquisition of 100% of the issued and outstanding securities of Resonant Analytics, LLC, a USA-based guided solutions analytics firm.
“The acquisition of Resonant provides NOW with an expanding footprint in the US marketing and business analytics space, an enterprise customer base and growing revenues,” said Daren Trousdell, Chairman & CEO of NOW. Continuing, Mr. Trousdell noted that “the addition of the Resonant team reflects our ongoing focus on investing in leading vertical expertise and creating opportunities to introduce NOW’s robust software offering to established customer relationships. Today’s acquisition brings together two great companies that are driven to help customers realize the potential of Vertical Intelligence.”
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Resonant works with some of the world’s most recognizable global enterprises, including Fortune 500 companies such as Adobe, Palo Alto Networks, and DocuSign, across multiple industry verticals and provides guided solutions all along the marketing data analytics value chain. The Transaction significantly expands NOW Solutions’ US commercial business, adding opportunities in addition to clients across multiple verticals, including Banking & Financial Services, Software Products, Consumer Package Goods, Travel & Leisure, and Healthcare.
“We are excited to become part of the NOW group of companies. Our combination today allows us to grow our platform by leveraging our combined customer relationships, networks and expertise,” said Dr. James “Jackson” Barrett, founder and President of Resonant Analytics. “As a result of this transaction, existing Resonant customers will benefit from a broader range of software and implementation solutions across a larger geographic footprint.”
Concurrent with the closing of the Acquisition, NOW secured a credit facility with US-based MVB Bank, comprising a term loan initially bearing interest at the Three Month Treasury Rate plus 3.15% per annum and a revolving line of credit bearing interest at the WSJ Prime Rate plus 0.50% (each with a floor of 4.5%).
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