"We feel like we were twins separated at birth," Suzanne Griffin, marketing manager for captivate, tells GlobeSt.com. "We realized we had a similar service and similar vehicles to deliver that service. We really compliment each other."
ENN's major markets are in Canada and in New York, Chicago and Dallas while Captivate, which is headquartered here, has contracts with buildings in 30 cities across the US. Captivate has installed monitors in 180 buildings while ENN has 100 monitors installed. In Boston, Captivate has contracts with a number of buildings Downtown--including One Financial, 75 Federal St. and 28 State St.--and in Cambridge.
Prior to the merger, Captivate commissioned an independent study, which gave the company's product a 94% approval rating. In addition, Griffin points out, 97% of the people questioned felt that Captivate reflected positively on the building manager. "This is a real bonus for real estate companies," says Griffin.
According to Griffin, the two companies have complimentary office markets and advertising markets that would benefit from a larger reach. Between the two companies, they have 1,100 buildings under contract. Once that full network is deployed, says Griffin, the system could reach up to three million businesspeople a day. Griffin adds that after the merger, Captivate plans to focus on building up its business in the top 10 US cities including Boston, Chicago, Houston, Dallas and Atlanta.
The companies have been aware of each other for quite a while but it is only within the last few months that the two sides decided it was a good time to talk seriously. "It made sense to work together rather than compete," notes Griffin.
After the merger is complete, Captivate's management team will stay in place and the company will continue to be called Captivate. ENN's CEO, Peter Irwin will remain president and CEO of the Canadian division of the company and ENN will be called a division of Captivate. Michael DiFranza will remain president and CEO of Captivate.
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