SAS to Acquire Veridiem Assets
Veridiem, a privately held software company based in Maynard, MA, helps customers analyze and optimize returns across the spectrum of marketing investments. It is backed by investors such as North Bridge Venture Partners, Venrock Associates, Infinity Capital and North Hill Ventures.
The deal is subject to certain conditions, including approval by Veridiem's stockholders. Financial details were not disclosed.
Veridiem's MRM capabilities, such as marketing-mix modeling, marketing investment simulations and guided analyses, help companies understand the business value of investments such as advertising, promotions, incentives, direct mail, events and the Web. Companies can simulate marketing strategies, measure the effectiveness of those under way and identify mid-course changes to maximize results.
Veridiem's software aims to promote accountability in marketing organizations, deliver continuous intelligence about marketing activities across various channels and generate strong return on investment.
The demand for marketing accountability is echoed industry-wide and acknowledged by leading industry research firms. Gartner Research vice president Kimberly Collins wrote in an April 2005 analytics report that "marketing organizations are under increased pressure to become more accountable and to increase visibility of marketing programs and their impact."
SAS, Cary, NC, said the buy augments its customer intelligence product line, an enterprise marketing management solution that includes marketing automation, event-based marketing, campaign optimization, Web analytics, e-marketing and customer analytics.
"Veridiem enhances SAS' unique ability to optimize marketing activities across the entire organization, from inception to completion, for higher profits and business value," SAS president/CEO Jim Goodnight said.
The acquisition brings SAS' Boston-area presence to about 160 employees. In 2003, SAS bought Marketmax, a provider of advanced retail planning and merchandise intelligence software. Veridiem's employees join those at SAS' office in Middleton, MA.
The Veridiem purchase is the seventh acquisition by SAS since 2000, and SAS said this reflects its acquisition strategy of enhancing its existing capabilities with technology and expertise that solve customer problems rather than simply buying market share.
Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters