Two leaders in user consent management solutions, Usercentrics and Cybot, parent company of Cookiebot CMP, announced that they will merge their operations to become a global market leader in delivering solutions that help brands protect their customers’ personal information. From now on, the combined business will operate under the name Usercentrics. The deal was orchestrated by the growth capital firm Full partners, investor in both companies. The financial terms of the transaction were not disclosed.
The combined business will address the growing global demand from end users for greater data privacy and transparency. The company will scale to support organizations around the world that are affected by GDPR and new and impending regulations, allowing those organizations to handle their users’ data in a compliant way and in a way that builds trust and competitive advantage. .
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By joining forces in this growth-focused merger, Usercentrics and Cookiebot will further strengthen and expand their organizations and their combined platform to ensure reliable data protection and transparency. Products offered by both companies will continue to be available, with Usercentrics focusing on the business and Cookiebot providing plug-and-play cookie compliance primarily for small and medium-sized businesses.
The merger occurs when the industry reaches a tipping point: consumer demand for clearer data practices is at an all-time high and consumer trust and loyalty are at stake for brands. 71 percent of people say they would stop doing business with a company if it gave away sensitive data without their permission, according to a McKinsey 2020 survey. To address the concerns, several US states have enacted or are planning to enact new legislation governing how personal data is collected, stored, used, and protected.
CEO and founder of Usercentrics, Mischa ruerupHe stated, “Privacy is the new normal. However, companies that approach data consent solely for the purpose of achieving regulatory compliance are missing the big picture. Transparent privacy practices inspire something really powerful for businesses: user trust. Together with Cookiebot, we are now in a stronger position to build an industry standard in user consent that leads with transparency and trust. “
Usercentrics’ combined business is a global market leader in the consent management industry. Its diverse customer base and partner network includes more than 20 technologies and 2,000 channel partners serving organizations of all sizes in more than 100 countries, on more than 700,000 websites. Businesses and their users rely on the handling of an average of 61 million consents per day to Usercentrics and Cookiebot.
The merger will focus on the growth of both companies by sharing resources and experience to better serve all customer segments.
CEO and founder of Cybot, Daniel johannsencommented: “Long before the birth of GDPR, we understood the need for a solution that provides end users with transparency about what happens to their data and helps companies properly manage user consent. During due diligence with Usercentrics, we discovered a shared set of values and goals to make transparent data compliance accessible and achievable for companies of all sizes. The merger with Usercentrics provides an exciting opportunity to reach an even larger audience and spread our message about the importance of protecting privacy through transparency and even better consent. ”
Elodie Dupuy, CEO and Co-Founder of Full In, added: “Through our discussions with Usercentrics and Cybot, it became clear that bringing these two great companies under one roof could be transformative for their future growth. Full In is proud to have played a role in creating a market leader in consent management as user privacy becomes a more pressing issue around the world. “
Usercentrics early investors Alstin Capital and Cavalry Ventures welcome this step as it paves the way for RegTech’s two European leaders to address users’ desire for greater privacy and transparency on a larger global scale. . Carsten Maschmeyer, Founding Partner of Alstin Capital, stated: “GDPR is a European export to the world. Usercentrics and Cookiebot, located in the birthplace of data privacy, now manifest the need for protection in a single global company. “Alstin Capital partner Lukas Bennemann, responsible for all investments in RegTech & Cyber Security at Alstin, will remain a member of the Board of the combined company.
Usercentrics and its early investors were advised by Taylor wessing. Cybot was advised by Ropes & Gray, Deloitte & Touche, Shearman & Sterling, Kromann Reumert, Danders & More, and BDO Denmark. Full In Partners and its affiliates were advised by Willkie farr And Gallagher.