The Norwegian firm Norstat has acquired 100 percent of the shares in the Zurich-based start-up TestingTime, further details of which can be found in a press release. Norstat specializes in data collection processes for market research services. With this takeover, the company is seeking to benefit from the self-service platform for test user recruitment developed by TestingTime.
Following the acquisition, TestingTime will now form part of the Norstat Group, which is represented in 14 different European markets. The start-up will, however, continue to operate as an independent brand and business entity under the leadership of co-founders Reto Lämmler (CEO) and Oliver Ganz (CTO). According to information in the press release, the two companies will together generate revenue in the amount of 60 million euros.
At the same time, the takeover marks Norstat’s first foray onto the Swiss market. The company has its sights set firmly on expanding its presence in the German-speaking DACH region comprising Germany, Austria and Switzerland.