Business Continuity Merger: Assurance Software Buys ClearView
Assurance Software has acquired ClearView Continuity as it seeks to bolster its global position as a business continuity services provider. For its part, Assurance Software spun off from Sungard AS in May 2018. Financial terms of the Assurance-ClearView deal were not disclosed.
Assurance says the deal — which it is calling a merger — will expand its position in the Business Continuity Management (BCM) market. ClearView brings with it approximately 120 customers, bringing Assurance’s total customer count to around 800 worldwide.
Both companies apparently were profitable at the time of the deal. The combined companies plan to invest heavily on a mobile app for continuity management and a virtual reality solution for training and awareness, the firms said.
Until now, Assurance has largely conducted its business in the North American market, while ClearView has its hold in the EMEA (Europe, Middle East, Africa) and Asia-Pacific markets. Assurance CEO Craig Potts says the two companies have a number of commonalities that will allow them to grow and enhance customer value.
“The union of our companies creates a global powerhouse that I believe will be the go-to partner for companies seeking to mitigate risk and enhance their organization’s resilience,” he said.
Still, the backup, disaster recovery (BDR) and business continuity markets are flooded in the SMB, midmarket and enterprise sectors. And more competition is on the way. Amazon Web Services, for instance, this week acquired CloudEndure — which offers multi-cloud BDR and migration services.