SAS Acquires Assets of Marketing Resource Management Company Veridiem
SAS, a leader in business intelligence, today announced that it has acquired the primary assets of Marketing Resource Management (MRM) provider Veridiem, Inc., a privately held software company based in Maynard, MA, that helps customers analyze and optimize their returns across the entire spectrum of marketing investments.
Veridiem provides a range of MRM capabilities – including marketing-mix modeling, marketing investment simulations and guided analyses – that help companies understand the business value of investments such as advertising, promotions, incentives, direct mail, events and the Web.
Using the software, companies can simulate the expected outcome of various marketing strategies, measure the effectiveness of those already underway, and identify mid-course changes that can maximize results.
Veridiem's software is designed to promote accountability in marketing organizations, deliver continuous intelligence about the impact of 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 as well. Gartner Research Vice President Kimberly Collins wrote in an April 2005 marketing analytics report1 "Marketing organizations are under increased pressure to become more accountable and to increase visibility of marketing programs and their impact." Veridiem was positioned by Gartner in the Visionaries Quadrant in the Magic Quadrant for Marketing Resource Management, 1Q06.2
The acquisition of Veridiem augments SAS' Customer Intelligence product line, the industry's broadest Enterprise Marketing Management solution that currently includes marketing automation, event-based marketing, campaign optimization, web analytics, e-marketing and unmatched customer analytics, all of which were designed to maximize the value of customer relationships.
SAS Customer Intelligence extends beyond the marketing department to bridge gaps across the enterprise. Built on the SAS Enterprise Intelligence Platform, SAS® Customer Intelligence software components deliver unmatched data integration, analytics and easy-to-use business reporting.
The acquisition brings SAS' Boston-area presence to approximately 160 employees. In 2003, SAS acquired Marketmax, the leading provider of advanced retail planning and merchandise intelligence software. Veridiem's employees join existing employees at SAS' office in Middleton, MA.
"Our acquisition of Veridiem reflects SAS' leadership in applying advanced analytics to solve complex business challenges," said SAS President and CEO Jim Goodnight. "Veridiem enhances SAS' unique ability to optimize marketing activities across the entire organization, from inception to completion, for higher profits and business value."
"SAS' acquisition of Veridiem will provide the resources and capabilities for continued industry leadership in helping marketers maximize return on marketing investment," said Ken Nicolson, President and CEO, Veridiem. "I am delighted that the marketplace can look forward to even more innovative solutions in the future as we join the SAS family."
The purchase of Veridiem is the seventh acquisition by SAS since 2000. It reflects SAS' acquisition strategy of enhancing its existing capabilities with technology and expertise that solves specific customer problems, rather than simply buying market share. Founded in 1998, Veridiem is privately held and backed by leading investors such as North Bridge Venture Partners, Venrock Associates, Infinity Capital and North Hill Ventures.
March 9 , 2006