WebMD Health Services, the Portland, Oregon-based provider of wellness services and solutions that is part of medical news and information online publisher WebMD, is acquiring Limeade, the corporate wellness tech company headquartered in Bellevue, Washington, for $75.3 million.
The transaction brings together two organizations that are pioneers in developing organizational wellbeing programs and in helping individuals make informed decisions on their health.
WebMD Health Services designs wellbeing programs for employers, government organizations, and health plans, offering personalized solutions that include digital health programs, one-on-one coaching, wellness challenges, and custom communications services. For its part, Limeade has for its stated goal the creation of healthy employee experiences to help organizations reduce burnout and turnover while also aiming to increase worker wellbeing and engagement.
Each entity brings complementary strengths to the table, both companies say. The combined entity will have in excess of 700 employees worldwide and an ecosystem comprising more than 20 curated partners.
“Limeade and WebMD Health Services are two purpose-driven organizations with more than 40 years of combined experience driving positive health behavior changes for employees and members,” says John Harrison, general manager of WebMD Health Services.
Henry Albrecht, Limeade CEO., says the union will allow the joint organization to deliver better service and capabilities to clients. “We are confident that the combination will bring together WebMD Health Services human expertise and Limeade technical innovation into a comprehensive solution that will have a positive impact on people and companies worldwide,” he notes.
The transaction is expected to close within the next quarter, subject to the customary closing conditions under the definitive agreement and to shareholder approval.
Canada’s Intouch Insight Intends to Acquire CX Measurement Firm
Intouch Insight, the Ottawa, Canada-headquartered provider of a cloud-based platform for multi-location businesses in the retail, food and beverage, and hospitality industries to manage CX across multiple channels, has signed a letter of intent to acquire a North American company engaged in CX measurement to enlarge its portfolio of clients and services.
The transaction, which for competitive reasons did not identify the company being acquired, sets out the purchase price at $1.5 million in cash upon closing, a $500,000 promissory note repayable for more than 3 years with interest, and additional contingency payments expected at approximately $400,000 every year paid in cash, based on annual performance for 4 years after the deal closes. Intouch says it intends to pay for the acquisition from a combination of bank debt financing and ongoing cash flow generated from the ongoing business being acquired, whose annual revenue amounts to $5 million.
“The proposed acquisition is synergistic with our current business. We expect a smooth and efficient integration of the new clients who represent some exciting new brands for Intouch to work with,” says Cameron Watt, president and CEO of Intouch, who also describes the company targeted for acquisition as “very well-run” and respected. “This transaction will increase our portfolio of clients to whom we can sell our entire suite of products, including our software-as-a-service (SaaS) offerings.”
The targeted closing date is September 1, 2023, by which time the identity of the company being acquired will be disclosed, according to Intouch Insight.
Intouch Insight, founded in 1992, offers a complete portfolio of customer experience management (CXM) products and services aimed at strengthening brand reputation and improving financial performance. Its flagship SaaS product, LiaCX, collects and centralizes data from multiple customer touch points, providing them with the tools to continually improve CX.
GSoft Gets CA$125 Million Investment from CDPQ
Employee experience (EX) firm GSoft is obtaining an investment of Canadian $125 million—equivalent to US $95 million—from global investment group CDPQ. Bootstrapped and profitable since its foundation 17 years ago, Montreal-headquartered GSoft says this marks a milestone for the company as it continues to create new software products. The new investment will support GSoft acquisition strategy to broaden product offerings and create more value for customers, company executives say.
“Today, the world of work is changing rapidly, creating many challenges, and we see a lot of opportunities to improve the employee experience—a truly unique moment in time and a massive playground for us,” says Simon De Baene, GSoft co-founder and CEO. “It’s the right time to take GSoft to the next level and continue to build and grow our company so that it can thrive for decades to come.”
Major GSoft products include ShareGate, a Microsoft 365 management solution for digital transformation; Officevibe, a software for human resources (HR) leaders and managers to contribute to their team’s performance, engagement, and recognition; and Didacte, a learning management system (LMS) recently acquired and designed to build, manage, and monitor employee training.
CDPQ, founded in 1965 and based in Quebec City, Quebec, is a global investment group with assets totaling Canadian $402 billion and offices in 10 countries, investing capital in private equity, equity markets, private credit, infrastructure, and real estate.
Author Information
Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
