In an Q&A interview, executives at Zift Solutions explain how the merger between the venture capital-backed Cary firm and Relayware.
Zift sought the deal and will be the name of the combined venture, but Zift’s CEO will be No. 2 in the merged venture.
However, the company won’t discuss the financial terms of the deal, which was announced earlier Wednesday,or whether any additional funding is involved.
(For WTW coverage of Zift dating back to 2010, check links with this post.)
Here’s our Q&A:
- How did this deal come about? Mutual partners? Introductions? Competitors?
Zift’s Ken Romley contacted Gordon Rapkin soon after he took charge at Relayware with the idea to merge the companies. After much discussion and careful evaluation of market demands and customer desires, the two companies decided to merge.
- In layman’s terms, please explained what the combined company will be offering in the way of services?
Together, we deliver Enterprise Channel Management via Channel as a Service (CHaaS), which encompasses, aligns and integrates everything B2B organizations working through indirect channels need to build and grow more profitable channel partner programs.
- Will the company remain based in Cary?
Our Cary, NC-based offices will remain open and essential to the expanded Zift team.
- Where will other offices be located?
We see strong value in having geographically diverse and international teams. We expect to utilize all of our current offices in the UK and US, which are currently located in Cary, NC, Jersey City, NJ, Boston, MA and Oxford, England.
- Will there be any layoffs at either firm as a result of the deal?
Mergers bring changes and potential overlap in teams and responsibilities. However, we see this as a growth move and new hires may be added to any of our global teams moving forward.
- Will Gordon be based in Cary?
Gordon will be based in Jersey City, NJ. Ken Romley, who will serve as President, will continue to be based in our Cary offices.
- Does the combined company expect to be hiring and if so when, in what areas?
We are and will continually evaluate our combined resources and will hire strategically to align with future business growth.
- Is there additional funding being raised as part of the deal?
We are unable to disclose that information at this time.
- Why not disclose financial terms of the deal?
We are a private company and, while a strategic alliance is now in place, the deal will not be officially closed until August 2017.