October 1, 2020
The acquisition of CR Worldwide by 360Insights, announced Thursday, helps the channel incentives management company expand globally.
Founded in 2008, Canada-based 360Insights sells its Channel Success platform. The 360Insights platform design optimizes channel incentives and manages them for both B2B and B2B2C companies. Channel Success serves multiple vertical industries — automotive, retail/buy group, eye care, technology, building materials, kitchen and bath, telecom, pharma, HVAC and tires. Founded in 2002, CR Worldwide‘s headquarters are in the U.K.
360Insights’ Jason Atkins
“CR Worldwide has built a reputation of excellence, a team of experienced and savvy professionals and a suite of products and services that have helped some of the world’s largest brands achieve sales success,” said Jason Atkins, founder and CEO of 360insights. “Their mission and vision align well with 360insights’, which is why we’re thrilled to welcome their people and capabilities to our growing team.”
The acquisition of CR Worldwide will help 360Insights expand its global workforce, reach and customer base. At the same time, the company expects to increase key capabilities, including point-based loyalty solutions and multilanguage solutions.
Tools from CR Worldwide integrate with 360Insights’ Channel Success platform. It is a SaaS solution that automates CIM, and includes channel data Management (CDM), closed-loop reporting (CLR), through-channel marketing automation (TCMA) and partner relationship marketing (PRM).
In addition to its U.K. office, CR Group has offices in the U.S. and EMEA. 360Insights has offices in Canada, U.S. and U.K.
Going forward, David Gould, former CEO of CR Worldwide, will be responsible for growing the European business.
“Our people and technology have established CR Worldwide as a successful incentive and engagement solution provider,” he said. “I look forward to being able to offer our clients more services as we join forces with 360Insights.”
Keep up with the latest channel-impacting mergers and acquisitions in our M&A roundup.
Atkins reports that more than half of CR Worldwide’s clients are in the technology sector.
360Insights has been active on the M&A front. In three years, the company has made five strategic acquisitions.
Forrester’s Jay McBain
According to Jay McBain, principal analyst, channel partnerships and alliances with Forrester Research, the channel incentives and program management (CIPM) software market will reach $935 million by 2024, a CAGR of 17%. In addition, $1.9 billion will be generated in services in this ecosystem.
However, McBain contends that it’s time for vendors to revisit their CIPM offers.
“Several converging trends have challenged traditional thinking in channel incentive programs, and the resulting complexity and vast permutations are causing channel pros to rethink how they motivate and drive loyalty with partners,” he wrote in blog.
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