Norwich analytics company ServiceTick snapped up by Silicon Valley-backed group

Dan Saulter, chief executive of Davies Group. Picture: Davies Group.

Dan Saulter, chief executive of Davies Group. Picture: Davies Group. - Credit: Archant

Norwich-based analytics specialist ServiceTick has been snapped up by a group backed by a major Silicon Valley investor.

The company has become the fourth acquisition for technical services provider Davies Group since Californian private-equity investors HGGC took a majority stake in it in January.

ServiceTick managing director Jason Wolfe said the deal could lead to further growth in Norwich for the 25-strong firm, which specialises in offering insight into customers' buying habits and shopping experiences through voice and digital surveys, analytics and consulting.

'This will help us to grow beyond our existing client base, as Davies Group has a number of complementary clients,' he said.

'The conversations we've had have all been really positive. They are not offering us a blank cheque, but if we put the case for investment they will support us to grow.'

ServiceTick founder and executive chairman Kevin Goodings, the majority shareholder, has left the business following the deal to focus on web analytics company SessionCam.

Mr Wolfe said the focus on 'digital transformation and innovation' at Davies Group was an 'exciting opportunity' for ServiceTick.

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Dan Saulter, chief executive of Davies Group, said: 'ServiceTick brings new digital capability to Davies and enables us to offer a deeper range of customer experience, complaints management and analytics capability to our insurance and highly regulated clients. We are excited to welcome Jason and his team into the group.'

ServiceTick focuses on working with insurance businesses and other highly regulated markets, and has offices in Queen Street.

Private-equity house HGGC took its stake in Davies Group in January, and has since overseen an acquisitive spell in which it has added three other businesses to the group.

In September 2017, Davies added specialist insurance and professional services provider Ambant to the group, forming a new insurance services division, and now has a team of more than 1,000 insurance, claims and regulatory staff operating from bases in the City of London, Stoke, Colchester, Birmingham, Peterborough, and Dublin.

HGGC is based in Palo Alto, California, and has assets totalling $4.3bn.

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