Queue management specialist, Tensator, and its private equity parent firm, The Riverside Company, have acquired a Portuguese-based rival, Newvision.
Newvision offers a range of products including dispersed queue management systems, self-service and multi-media information kiosks, and digital displays.
Since 2008 the company has achieved 20% growth per annum in revenues and has more than 3,000 installed solutions serving more than 400 customers; mainly in Europe, but also in Africa, the Middle East and Latin America.
Customer sectors include postal, retail and public administration, healthcare, telecoms, banking and utilities, among others.
“Having access to Newvision’s excellent dispersed queuing technology is critical to our continued success in becoming the definitive global leader in the management of the customer journey,” said Tensator CEO, Alan McPherson.
“Now, with Newvision and Tensator under the same Riverside umbrella, we can provide an even more diverse range of revenue and margin enhancement, labour savings and customer experience solutions.”
Tensator claims to have pioneered custom space management solutions that accelerate queues, reduce wait times, generate marketing value and improve sales.
Its product offer includes in-queue impulse purchase merchandising systems; signage and advertising accessories; and electronic queuing, an electronic call forwarding system that provides queue management statistical reporting and digital media.
While Tensator has experience in linear queuing systems, including the Tensabarrier, which is sold in over 150 countries around the world, the acquisition of Newvision provides an excellent platform for entering the faster growing non-linear or dispersed queuing market with a proven suite of products, said the company.
“The combined offering of Tensator and Newvision will have a major positive impact on both businesses,” said Riverside partner, Karsten Langer. “There is an excellent fit between both strategies, which opens the door to significant synergies and cross‐selling opportunities. Newvision’s renowned technologies in dispersed queuing, combined with a strong management team that will remain in place, are a great complement to Tensator’s world-famous brand and global presence.”
The transaction should greatly benefit both companies, said Miguel Ferreira, Newvision chairman of the board. “Combining the complementary geographic footprint of both companies makes a potent suite of products available to a very wide variety of customers across the world. It’s a great platform for mutual growth.” he said.
The markets in which Newvision and Tensator operate – queue management and interaction management – have an estimated annual value of $2.3bn globally (2010).