The purchase is part of a long-term plan to incorporate mobile strategy, design and technology into Taylor’s portfolio, consisting of 80+ subsidiaries which serve 275 Fortune 500 companies and thousands of small to medium-sized businesses globally. Combined revnue is estimated to be around $1.5 billion, annually.
Taylor’s acquisition of MentorMate follows a string of recent technology forays, notably nabbing RedStamp last August and investing into Sport Ngin’s most recent round. As part of the deal, Taylor is also buying into MentorMate’s related business interests, including MobCon, Storyworks OnDemand and BevEngine.
“As we evaluated numerous options to create exceptional value for our customers, employees and owners, and to expand nationally and internationally, Taylor emerged as the premier choice for its ability to create tremendous market access and its industry-specific expertise on a global scale.” says Björn Stansvik (right), CEO of MentorMate.
Taylor Corporation added, “As an award-winning mobile and web strategy, design and development firm, MentorMate will bring transformational technology to our companies and we are excited about the acquisition. Their proven success in delivering simple, beautiful and meaningful mobile and web solutions to small and large businesses will play a key role in helping our customers communicate their messages while maintaining and enhancing their brand.”
MentorMate’s onshore and offshore operations, including management, will remain unchanged and Stansvik will continue as CEO. Transaction terms were not revealed.