Sales and marketing services firm Maritz Holdings is acquiring Allegiance Software and creating a standalone company, MaritzCX.
Fenton-based Maritz Holdings said the acquisition of Allegiance, which is based in a suburb of Salt Lake City, will bring together Allegiance's software innovation and Maritz Research's market research expertise.
The two companies have worked together for several years, said Maritz Holdings' chairman Steve Maritz. "This is all about growth," Maritz said of the merger. "The Maritz Research business is a real leader, and this broadens our reach and gives us new capabilities."
Maritz Holdings' revenue in 2013 reached $1.2 billion. MaritzCX will have revenue approaching $200 million in its first year, and have more than 900 full-time employees in 18 offices. Financial terms of the acquisition, which is set to close by the end of the year, were not disclosed.
Carine Clark, president and CEO of Allegiance, will lead MaritzCX as president and CEO, and MaritzCX will be based in the Salt Lake City region.
Maritz Holdings, which remains based in Fenton, is the largest investor in MaritzCX.
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