St. Paul-based employee engagement firm Augeo has acquired enterprise engagement company MotivAction.
Combined, the companies expect to generate $350 million in annual revenue. Augeo will gain 110 employees from MotivAction, bringing the combined firm’s total headcount to about 300.
Both firms specialize in platforms aimed at boosting employee engagement. Augeo also sells a product designed to generate customer loyalty.
Augeo CEO David Kristal says MotivAction was the right “cultural and strategic fit” for his organization.
“We’ll have the widest and deepest breadth of solutions in the [engagement] industry today,” Kristal says. “MotivAction is very much aligned with how we operate.”
Kristal says he was first introduced to MotivAction leaders back in the fall. The two firms spent a few months getting to know each other better before deciding to join forces.
The acquisition comes as MotivAction CEO Bill Bryson prepares to retire. The transaction also comes a year after Augeo sold its financial institution arm to a private equity firm.