People analytics multinational Visier has announced the acquisition of collaboration analytics firm Yva.ai for an undisclosed sum. The original announcement was made during Visier's Outsmart customer conference on 4 May.
This deal is an asset acquisition rather than a stock acquisition, meaning that Visier now owns Yva.ai's actual technology and the associated intellectual properties.
Ryan Wong, co-founder and CEO of Visier, said the deal will round out Visier's product portfolio for a more comprehensive suite of solutions: “This acquisition reflects our goal of helping companies to deeply understand the human truths – and the hidden truths – within their organisations by shining light on how people work and how people work together.”
Along with the acquisition, Visier has hired over 30 of Yva.ai's engineers and data scientists, comprising about half of its global workforce. However, the two companies have not stated what role Yva.ai co-founders David Yang and Gary Fowler will play going forward.
Visier was valued at over $1 billion last year following a successful $125 million Series E led by Goldman Sachs Asset Management. Its acquisition of Yva.ai comes shortly after the company announced record fiscal year performance for the year ending 31 January 2022.