JEGI REPRESENTS GARTNER IN SALE OF WORKFORCE SURVEYS & ANALYTICS TO PARKERGALE CAPITAL
New York, NY, May 1, 2018 – Gartner announced that it has sold Workforce Surveys & Analytics (“WS&A”), a leading tech-enabled survey and analytics platform providing key insights to support corporate strategic planning and business outcomes, to technology-focused private equity firm ParkerGale Capital. With the financial support of ParkerGale, WS&A will merge with CultureIQ, a provider of a culture management platform and employee survey software.
JEGI (www.jegi.com), the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors, headquartered in New York, NY, represented Gartner in this transaction
“This is an exciting combination of two great companies. One with strong, modern technology and one with decades of expertise and intellectual property. WS&A is the recognized industry leader working with some of the largest companies in the world and we are excited to join forces,” said CultureIQ CEO Greg Besner, who will be the CEO of the combined business.
CultureIQ was founded by Mr. Besner in 2013 as a software-as-a-service disrupter in the traditional employee culture and engagement survey industry. WS&A came together through Corporate Executive Board’s acquisitions of Valtera and Genesee Surveys. ParkerGale, having used CultureIQ’s products across its portfolio companies for several years, brought the idea of merging the companies earlier this year and financed the transaction along with CultureIQ’s existing investors.
“We think this is exactly what the market is looking for – a high tech and high touch approach to employee engagement,” commented Devin Mathews, Partner at ParkerGale. “From our industry research, we know there is a huge market without a clear leader. Companies are updating the old ways of surveying employees for feedback and are now listening deeply to their employees using technology and fostering engagement through action plans built on decades of benchmarking and best practices. The combination of CultureIQ and WS&A creates the clear leader the industry has been seeking.”
The new company will operate under the CultureIQ brand and will be the premiere provider of culture and engagement solutions for companies of all sizes. With strong talent, shared values, and a customer-focused approach, the focus will be to invest in areas of growth, while preserving the best of both organizations.
“Combining WS&A’s nearly 50 years of deep expertise in the survey and talent analytics space with CultureIQ’s innovative platform is an exciting proposition for our team and will allow us to bring even greater value to our clients,” added Karen Barbera, Head of Delivery at WS&A.
About Workforce Surveys & Analytics
WS&A is a leading provider of insights and analytics supporting corporate strategic planning and business outcomes via an enterprise-class, tech-enabled workforce survey and analytics platform. WS&A drives results for corporations globally by aligning employees’ engagement with corporate strategy and enabling organizational change. The business has developed significant IP including a compelling and robust set of benchmarks and the deepest best practices database in the industry. WS&A’s team of I/O psychologists design and deliver workforce surveys to generate insights and actionable intelligence key to delivering on critical business outcomes to help organizations achieve competitive advantage.
CultureIQ helps you leverage employee feedback to measure, understand, and strengthen your culture. Its flexible surveys, intuitive analytics and seasoned strategy team provide unprecedented insight into your organizational culture—plus guidance on where to focus to drive meaningful change. With CultureIQ, you can collect and understand the right data on an ongoing basis, pinpoint opportunities across employee demographic groups, and align your culture with your business strategy. For more information, visit cultureiq.com.
About ParkerGale Capital
ParkerGale Capital is a private equity fund based in Chicago that buys profitable, founder-owned technology companies and corporate carve-outs where the firm’s operating resources can have a meaningful impact on the outcome. ParkerGale also hosts the private equity industry’s only podcast, the PEFunCast on iTunes and Google Play. For more information, visit www.parkergale.com.
JEGI has been the leading independent investment bank for the global media, information, marketing, software and tech-enabled services sectors for over 30 years. Headquartered in North America, with offices in New York City and Boston, as well as London and Sydney (through its partnership CLARITY), JEGI has completed more than 650 high‐profile M&A and financing transactions, serving global corporations; middle‐market and emerging companies; entrepreneurial owners and founders; and private equity and venture capital firms. For more information, visit www.jegi.com.
“In choosing JEGI to represent Gartner on three very different divestitures in separate, but overlapping processes, they fulfilled our highest expectations in every way. At the core of JEGI’s success in delivering an exceptional outcome for Gartner were their very disciplined yet pragmatic approach, their in-depth knowledge of the marketplace and buyer pools, their ability to both craft a nuanced story that resonated with buyers and present complex transaction issues clearly, and their hearty appetite for hard work and long hours. We had the full attention of JEGI’s deep team from start to finish, which enabled them to stay on schedule and deliver maximum value on each of the transactions. In short, the JEGI Team is the real deal.”
– Christian Keane, Group VP, Corporate Development, Gartner