QuestBack, a provider of Enterprise Feedback Management (EFM), announced that it has acquired and will merge with Globalpark, a Social Customer Relationship Management (SCRM) provider, to become one of the leading global EFM suppliers.

The combined entity is likely to have a turnover of  $56.7 million within its first year of operation. QuestBack officials said the merger will enable these companies to position as the indisputable leader in the European EFM market and one of the leading global EFM providers.

Globalpark is already the largest European provider of panel, community and corporate feedback management solutions. The company has expanded to the Social CRM space by launching Social Insight Connect, a social media EFM platform.

An innovative platform, Social Insight Connect allows organizations to use Facebook to gain customer feedback and to capitalize on their investments in social media.

“The company's presence in important geographical markets, as well as their industry-renowned team will significantly benefit QuestBack's presence and positioning,” said Ivar Kroghrud, CEO, QuestBack, in a statement. “A key goal is to develop our social media and Social CRM offerings. Globalpark helps us to achieve this.”

Globalpark is betting big on CRM opportunities as Social CRM is likely to become one of the fastest growing segments within the software industry.

Globalpark is recognized as a Magic Quadrant vendor by Gartner (News - Alert) in their recently published Magic Quadrant for Social CRM.  

“This merger is a great step for us as a company,” said Lorenz Gräf, Group CEO and co-founder, Globalpark. “Combining Globalpark's technology and innovative products with QuestBack's product portfolio, sales and marketing excellence, and large market presence will create an unbeatable combination.”

Recently, Globalpark announced it has become a feedback management platform for media agency, MediaCom. By using Globalpark technology, MediaCom will be able to offer its clients a real depth of understanding into consumer attitudes.