SocialChorus and Dynamic Signal to merge
SocialChorus and Dynamic Signal, SaaS vendors in the digital employee experience space, have entered into a definitive merger agreement.
SocialChorus is the creator of FirstUp, the platform that seeks to make the digital employee experience work for every worker. Hundreds of companies across every industry depend on Dynamic Signal’s mobile, desktop, and web applications.
Dynamic Signal provides an employee communication and engagement platform, and is committed to creating a connected, inclusive, and engaged workforce.
According to SocialChorus and Dynamic Signal, the merger is a leap forward in their mission to transform how organizations connect every worker with the right information at the right time. This combination will accelerate the move away from destination site delivery models to an orchestrated digital employee experience that fosters employee productivity and well-being.
“The digital employee experience of an organization is not a destination, it’s an expectation and experience that meets the needs of a distributed and diverse workforce,” said Gary Nakamura, CEO of SocialChorus. “To truly solve the problem, meeting workers where they are with personalized information and resources is critical. The combination of SocialChorus and Dynamic Signal presents a huge opportunity for growth and innovation on the journey to give customers what they need to create an unparalleled digital employee experience."
Sumeru Equity Partners will make a significant new growth investment in SocialChorus and subsequently fund the combination with Dynamic Signal. In addition, senior management and existing investors of both companies will invest a meaningful stake into the transaction. Terms of the transaction were not disclosed.
SocialChorus and Dynamic Signal will unite under the leadership of Gary Nakamura, CEO of SocialChorus, and an executive team comprised of Dynamic Signal and SocialChorus team members. Three representatives from the Dynamic Signal board of directors, including Eric Brown, CEO of Dynamic Signal, will join the current SocialChorus board of directors to form the board of the combined company.
After closing, the combined organization is expected to scale with additional resources to accelerate investments in product development and customer service innovation. The combined organization will continue to support solutions across their respective platforms and will serve more than 500 customers and reach over 15 million employees globally.
The closing of the merger is expected in Q3 and remains subject to customary regulatory and other approvals.
For more information, go to www.socialchorus.com.