Thursday Mar 28, 2013 by Dennis Keohane - Contributor, VentureFizz
Boston mobile innovation company Mobiquity announced today the acquisition of Providence’s Vertical Performance Partners, makers of the mobile business-solution software, Velocity. With the announcement, the VPP team joinsMobiquity as a newly formed entity, Mobiquity Velocity Solutions, Inc.
The move serves many purposes for Mobiquity, which is currently a leader in developing mobile solutions for enterprises and has its headquarters in Wellesley. In particular, the addition of Velocity adds the mobile meeting software’s pharmaceutical-heavy client base to Mobiquity’s already extensive portfolio of clients.
Moreover, adding VPP’s Velocity increases Mobiquity’s own expansive business-driven mobile solutions offerings. While Velocity allows for the widespread deployment of mobile apps, tracks and creates strategies for employee performance, and makes the sharing and creation of content easier, Mobiquity’sgreatest interest in Velocity may be the software’s mobile meeting and training capabilities for enterprise.
In the press release provided by Mobiquity, Bill Seibel, the company’s CEO,explains the logic behind the acquisition. “[It] enables us to broaden our client base and provides us another enterprise-class solution we can introduce to our clients.” He continues, “By combining our professional services capabilities with products and frameworks that target key verticals, we’re able to bring innovative solutions to market faster and at a lower cost.”
Another aspect of the move is the integration of the VPP team with Mobiquity.
Carl Wooten, formerly of VPP will step into the role of vice president and general manager of Mobiquity Velocity Solutions, Inc. Wooten believes that theacquisition is “a terrific union between two like-minded companies.”
Summing up why the move makes sense for both companies, he says, that VPP and Velocity can now, “extend Mobiquity’s valuable mobile services to our client base, and Mobiquity’s expertise and scale will help us add more features and functionality to our software as well as expand into other verticals.”
Some of the major clients of both companies in this deal include Bristol-Myers Squibb and Johnson & Johnson from VPP’s portfolio of clients. Among the companies currently using Mobiquity’s mobile solutions are CVS, Fidelity Investments, and MetLife, among others.