ServiceSource, which provides recurring revenue management software for businesses like Renew OnDemand, announced today that it has acquired Scout Analytics, a Seattle-based provider of predictive analytics for subscription businesses. The terms of the deal were $32 million in cash.
In a statement, ServiceSource says that these verticals “roughly doubles its addressable market to now over $600 billion in recurring revenue opportunities.” Scout Analytics’ current customers include the Financial Times and Reed Elsevier, as well as information services company Wolters Kluwer, which is also an existing client of ServiceSource.
Scout Analytics manages more than $3.5 billion in recurring revenue, and ServiceSource says the acquisition will allow it to expand its business to $14 billion across more than 200 customers, tap into new markets, and offer recurring revenue management services to both subscription and traditional businesses.
Scout, one of Scout Analytics’ products, tracks customers’ subscription usage, spending, and other activity, and provides information that companies can use to improve account management, retain customers, and develop marketing strategies that to sell more services to users. ServiceSource said that recurring revenue will play a “pivotal role” into the Internet of...