InMoment and MaritzCX, recognised market leaders and proven innovators in the global customer experience (CX) sector, have announced that they have entered into a definitive agreement to combine the two companies.
The Australian market is suffering an economic slowdown impacting industry and retail, leading to CX becoming the crucial factor for winning and retaining customers. With 86% of brands failing to fully benefit from CX investment, the combination of InMoment’s technology and MaritzCX strategic services provides brands with a definitive solution to identify clear areas of improvement and deliver business results from experience efforts.
The merger of two CX giants, both named industry leaders in the recent Forrester Wave 2020 report, will benefit the Australian market specifically with over 80 employees, and the wider APAC market with job creation across new offices in Sydney, Singapore and Shanghai; as well as an existing office in Melbourne.
The combined company will immediately support over 2,000 leading brands with a global team of 1,500 employees located in 20 offices spanning North America, Europe, and Asia.
“In this world of rising consumer expectations, it is imperative for businesses to have an experience program that can continuously monitor, understand, analyse, and improve the total customer experience with true agility,” commented InMoment CEO Andrew Joiner.
“We are bringing together two world-class companies that will deliver a truly unique value to our clients in their ongoing quest to win over customers. I couldn’t be more excited about our future as we bring together these two amazing companies to redefine ‘what’s possible’ in our industry–meeting clients where they are today and innovating together to create the future.”
Solidifies leadership positions in retail, hospitality, automotive and financial services
The combined company, backed by Madison Dearborn Partners, a leading Chicago-based private equity firm, serves an impressive list of clients that includes over 50% of Fortune 500 companies; 90 percent of the world’s automotive companies; eight out of 10 of the leading banks; four of the top five Australian insurers; nearly 20 percent of the top 50 retailers and 40 percent of the top hospitality companies.”
MaritzCX Managing Director for APAC, David Blakers added, “As the CX industry evolves, delivering high-impact programs as an integral component of business strategy becomes the competitive differentiator for growing companies in the region.”
“We are excited to combine the award-winning MaritzCX partnership and customer success model with InMoment’s industry leading experience intelligence platform to create a truly unique solution to evolve our client’s CX capability. This ground-breaking offering will enable our clients to easily identify actionable insights, design and create better customer experiences, increase program engagement and demonstrate tangible value back to the business.”
Clients of both companies will have access to enhanced technical functionality while maintaining continuity with existing programs–protecting and future-proofing their investment.
“Winning companies in any industry are those with access to the right customer knowledge, at the right time, that drives the right action to fundamentally improve the delivered customer experience,” said John Lewis, executive chairman of InMoment, Madison Dearborn Partners executive partner and former global president of Nielsen.
“However, that’s all easier said than done. Companies can often underestimate just how challenging it is to knit all the systems together in a way that creates tangible value to consumers while also delivering economic value to the enterprise. The only way to ‘crack-the-code’ is to marry talented domain experts with leading-edge technology to create tailored systems that can deliver on the bigger vision. You need both sides of the equation–and that is exactly what we are getting by bringing these two companies together.”
Andrew Joiner will lead the combined organisation as CEO, and John Lewis will continue to chair the Board of Directors. Leadership from both organisations is represented on the combined leadership team. It is expected MaritzCX will operate as MaritzCX, an InMoment company, for a period of time.
The transaction is expected to close in early March 2020.