SQAD, which is backed by Clarion Capital Partners, has acquired Workhorse Software. Financial terms weren’t announced. Evanston, Ill.-based Workhorse develops media planning and plan management tools. Metronome Partners provided financial advice to Workhorse.
TARRYTOWN, N.Y.–(BUSINESS WIRE)–SQAD, the largest independent source in the U.S. for TV, radio, and digital cost analysis, and Workhorse Software, the global leader in advertising planning software, today announced that they have merged to become a unified provider of media planning and advertising cost solutions.
“Not only do we share common clients, we also share a vision on how we want to expand and serve the evolving media industry over the next several years.”
The consolidated company will serve an increasingly fragmented media industry with an indispensable suite of products that provide heightened transparency through best-in-breed cost data analytics and uniformity through premiere media planning software. The complementary product offerings will provide opportunities to integrate and scale media planning and performance solutions for clients of both companies.
SQAD, the industry standard in media cost analytics, provides solutions to over 1,500 clients including advertisers, advertising agencies, buying services, television and radio stations, cable operators, program syndicators, and Internet publishers.
Workhorse’s SaaS-based media planning and management software, Mediatools™, has been widely adopted by advertisers and agencies as the primary system to manage and plan global media buys across all forms of new and traditional media. Serving over 6,500 licensees worldwide, Workhorse’s software has become the media planning system of choice for Fortune 500 companies and leading advertising agencies.
“This is a natural partnership, as SQAD has worked alongside us for many years,” said Ken Green, President of Workhorse. “Not only do we share common clients, we also share a vision on how we want to expand and serve the evolving media industry over the next several years.”
“This transaction comes in direct response to the industry’s current need for integrated data and business systems,” said Neil Klar, CEO of SQAD. “As the media landscape continues to evolve, our collective goal is to develop flexible and integrated media planning and performance solutions that enhance transparency and efficiency within an integrated platform, incorporating solutions for both new and traditional media.”
Executives from both SQAD and Workhorse will combine to form the senior leadership team. Ken Green will become the President of SQAD and Neil Klar will continue to serve as CEO of SQAD. The consolidated company will have a global presence with offices in New York, Chicago, Los Angeles, London, and Manila. In connection with the transaction, SQAD will look to bring on additional talent, including sales executives and software developers, as it expands its product offerings and client base.
“Integrating the outstanding management teams and industry leading products of these two companies is a big step in developing consolidated global solutions to address media fragmentation and advertising transparency,” said David Ragins, Managing Director of Clarion Capital Partners, an investor in SQAD.
SQAD was represented in this transaction by its counsel, Cooley LLP. Workhorse was represented by its financial advisor, Metronome Partners LLC, and its counsel, Reed Smith LLP.
SQAD® is recognized as the industry standard media cost forecasting source for national TV (NetCosts™—network TV, cable and syndication), Spot TV, Hispanic Spot TV Plus, Spot Radio and the Internet (WebCosts®). SQAD provides reliable media data to advertising agencies, buying services, advertisers, television and radio stations, cable operators, program syndicators and Internet publishers. SQAD enjoys strong partnerships with market leaders in both data and analytics. Established more than 25 years ago, SQAD serves over 1,500 clients. For more information on SQAD, visit www.sqad.com.
About Workhorse Software
Based in Evanston, IL, Workhorse Software is a developer of media planning and plan management tools utilized at top tier advertising and communications companies worldwide. The company’s flagship product, Mediatools™, offers a family of integrated components that provides a seamless media planning environment for advertiser and advertising agencies. For more information on Workhorse Software and the company’s product line, visit www.workhorsesoftware.com.
About Clarion Capital Partners, LLC
Clarion Capital Partners is a New York based middle market private equity firm. Clarion invests in growing companies in a variety of industries including Media & Entertainment, Consumer Products, Specialty Retail, Business Services, Healthcare Services and Specialty Financial Services. Additional information on Clarion can be found at www.clarion-capital.com.