geoVue will continue to operate as a stand-alone entity. Versata will provide development resources to accelerate R&D and delivery of geoVue's new Software as a Service (SaaS) platform. Atanas Popov, new president of geoVue, commented: "geoVue is at a turning point. Its recently developed SaaS platform requires different scale and resources."
Texas-based Versata Enterprises, an enterprise software solutions provider, has acquired geoVue, a location intelligence (LI) company based in Boston. Madison Park Group helped to structure the deal.
geoVue provides LI, modelling and analysis solutions to retailers, restaurants and service companies for market ranking, optimisation, site selection and sales forecasting. The geoVue products integrate seamlessly with real estate and marketing processes.
Versata's integration of geoVue will begin with Versata's Customer Success programme, designed to emphasise the company's focus on customer relationships and alignment of investments with customer priorities.