Liverpool City Region Tech Firm bought by US giant in £20m deal
A firm in Liverpool City Region which specialises in video feedback technology has been bought by an American multi-national in a deal worth £20m.
American based management company Medallia will acquire LivingLens for approximately $26m. The acquisition is expected to be completed by the end of the month.
LivingLens uses video signals and then analyses then to provides businesses with insights into customers and employees emotions. Customers include O2, Populus and CrowdLab.
Carl Wong, chief executive of LivingLens, said: “Video feedback is one of the most powerful innovations in experience management today. Video brings 6x more feedback signals than text responses.
“Video feedback is being deployed across industries. Hospitality, travel, retail, consumer goods, auto, technology, financial services and telecommunications companies all use video feedback to better understand their product, customer and employee experiences in live-time.”
The platform captures and analyses video insights in a single platform to extract meaning that drives better decision making from executives to frontline employees.
Leslie Stretch, President and CEO of Medallia, said: “Our acquisition of LivingLens will give our customers in all industries the ability to leverage video feedback alongside social, voice, app and web in Medallia’s leading experience management solution.
“With 3.5 billion global smartphone users and 54 percent of all mobile brand experiences being video and image-based it is vital to capture this exciting feedback signal. Today nearly 70 percent of our solicited feedback is sent via mobile.”
LivingLens was founded in 2014 in Liverpool, and has offices in London, New York and Toronto.