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/ CORRECTION - Visible Technologies(April 09, 2012)
BELLEVUE, WA -- (Marketwire) -- 04/09/12 -- In the news release, "Visible Technologies Acquires Cymfony to Expand Global Product Offering," issued Friday, April 6 by Visible Technologies, we are advised by the company that the seventh paragraph has been revised. Specifically, the last sentence of that paragraph should read "WPP's stake in the merged company is now 49% of all outstanding shares." rather than "After closing, WPP's stake in the merged company is 49% with Visible's management and venture investors retaining voting control of the company." as originally issued. Complete corrected text follows.
Visible Technologies Acquires Cymfony to Expand Global Product Offering
Acquisition Bolsters Growth; Adds International Social Media Insights Capabilities; Richard Pasewark Named CEO of Visible Technologies
BELLEVUE, WA -- April 6, 2012 -- Visible Technologies® today agreed to acquire Cymfony, combining the two award winning social media analytics and insight solution providers. The acquisition will enable Visible® to capitalize on the momentum of an emerging market and scale quickly to meet evolving customer demands. New and current Cymfony and Visible customers benefit by gaining access to expanded solutions with far-reaching global capabilities. Visible will be led by Richard Pasewark, former President of Cymfony.
"Customers need to realize enhanced value from social media analytics to drive business decisions," said Richard Pasewark, CEO of Visible. "Bringing together Cymfony and Visible will uniquely position the company to deliver actionable insights and global solutions via expert services, scalable technology, and international content."
The new Visible will build on the strengths of Cymfony's global content, sophisticated analytics, scalability to thousands of enterprise users, and actionable consumer insights. Combined with the dynamic social monitoring and analytics platform, strong recent growth, and expanded partnerships of Visible, the new company will double in size and continue to service Forbes Global 2000 businesses in a variety of industries, including financial services, pharmaceutical, automotive, consumer products, retail, travel and hospitality, telecom, technology, and agencies.
"Social media has become an integral component to any marketing strategy, and we are seeing increased demand on all fronts -- particularly as customers build out their investments and seek greater support through professional services and global solutions," said Joseph J. Grano Jr., Chairman of Visible Technologies and Chairman and CEO of Centurion Holdings. "For the last decade both Visible and Cymfony have clearly been product innovators, and the acquisition of Cymfony will fuel continued success for Visible."
Current Visible and Cymfony customers will continue receiving support on their solutions. All customers will benefit from the expanded global social media content and insight practices, with additional technology enhancements to be shared in the near future.
Led by a strong team of executives from both companies, Visible Technologies is headquartered in Seattle and operates from Boston, New York, Los Angeles, Chicago, and London, UK.
Prior to the transaction WPP, the world's largest communications services company, owned approximately 24% of Visible Technology and all of Cymfony. WPP's stake in the merged company is now 49% of all outstanding shares.
About Visible Technologies
Visible is the leader in social media monitoring, analytics, and services for enterprises globally. Visible's award-winning technology and expertise helps businesses analyze social media conversations to better understand consumer preferences, market dynamics, competitive strengths and weaknesses, and other information critical to a company's reputation and brands. Visible is the solution of choice for many Forbes Global 2000 companies in a variety of industries including financial services, pharmaceutical, automotive, consumer products, retail, travel and hospitality, telecom, technology, and agencies.
Visible delivers social media analytics at internet speed and enterprise scale. www.visibletechnologies.com
Barokas Public Relations for Visible Technologies
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