It’s not just media sellers and advertisers who are adapting their businesses to new multimedia campaigns, so too are vendors. The media pricing tracking service SQAD has struck a deal to buy the media planning management company Workhorse Software, whose products are largely used by agencies and advertisers.
“This transaction comes in direct response to the industry’s current need for integrated data and business systems, ” SQAD chief executive Neil Klar says. With the dramatic and often times quick changes to media plans, he says Workhorse’s media planning and management software are likely to have even more appeal for a customer base that includes a fair amount of overlap between the two companies.
Klar tells Inside Radio there’s no immediate plans to fuse together all of their products into a single large-scale software product, but he is thinking about other potential new products. One would be to directly tie in SQAD’s radio pricing data into a product that also offers Nielsen radio ratings.
Terms of the deal between the two privately-held companies weren’t disclosed. Executives from both SQAD and Workhorse will combine to form the senior leadership team. Klar will retain his CEO title. Workhorse president Ken Green will hold the same title at SQAD.
It is the first move by SQAD since Clarion Capital Partners took a majority stake in the company last October. Klar says Workhorse was first on the list of companies that he believed would blend with SQAD. And he says they’re committed to more growth, including through additional acquisitions.
Read more at: Inside Radio.