Vancouver-based ZoomInfo introduced Tuesday that it’s going to purchase enterprise intelligence firm Refrain.ai in a $ 575 million transaction.
ZoomInfo operates a database of firm data geared toward gross sales and advertising groups to assist them discover clients and dealer business-to-business offers. The corporate’s software-as-a-service platform collects and organizes contact data and different enterprise knowledge with the help of synthetic intelligence and human analysis groups.
Refrain.ai is described as a “dialog intelligence” platform that makes use of machine studying and synthetic intelligence to research calls, conferences, and emails with prospects with the intention to present extra data to gross sales groups, in keeping with a ZoomInfo press launch , the “a brand new class of actionable insights” on the ZoomInfo platform.
“ZoomInfo is the one firm that may mix a world-class knowledge layer with world-class go-to-market purposes,” ZoomInfo founder and CEO Henry Schuck stated in a press release.
“The acquisition of Refrain will speed up our imaginative and prescient of delivering a contemporary go-to-market platform that mixes best-in-class intelligence with complete knowledge administration, workflow and engagement software program and allows corporations to successfully implement their revenue-generating methods. “Mentioned Schuck. “With the most important Dialog Intelligence patent portfolio within the trade, Refrain will advance each facet of our imaginative and prescient by producing a brand new class of perception, highlighting new workflows, and enabling extra focused engagement at scale.”
Jim Benton, CEO of Refrain.ai, will be a part of ZoomInfo as Senior Vice President, New Merchandise.
The $ 575 million buy might be funded with money and $ 500 million in extra funding, in keeping with the information launch. The takeover deal might be one of many largest within the firm’s historical past.
ZoomInfo operated beneath the identify DiscoverOrg till the corporate acquired former competitor Zoom Data in early 2019. The merged firm took on the identify ZoomInfo later that 12 months. On the time of the announcement, the acquisition of Zoom Data is believed to have price roughly $ 500 million.
ZoomInfo went public in June final 12 months and raised $ 934 million from buyers when it went public. The corporate is traded on the Nasdaq beneath the image ZI.
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