Combined company provides global spend management and usage tracking platform for data and research subscriptions across the enterprise
The combined platform will provide global clients with market leading capabilities to manage the full lifecycle of their data and research subscription needs – contracting, provisioning, usage monitoring, request tracking, billing and renewal analytics.
Steve Matthews, CEO of TRG, said “This partnership is a growth story for all of our stakeholders. Our two companies not only offer complimentary solutions, but we both pride ourselves on delivering unparalleled levels of client service. The subscription economy continues to demonstrate explosive growth and increasing complexity, making it difficult to effectively manage within the enterprise. Combining our products will give our clients single view transparency and a differentiated and holistic solution to this ever-growing challenge.”
The combined company will be known as TRG and will be headquartered in New York with offices in Minneapolis and Washington, D.C. (U.S.), London (UK), Auckland (New Zealand) and San Jose (Costa Rica). The acquisition, coupled with the upcoming major release of FITS 4, demonstrates the Company’s ongoing commitment and unrelenting focus on product innovation since Boston-based Polaris Partners invested in the company in 2014.
Peter Borchers, Managing Director of Priory Solutions, who joins TRG’s executive team, commented: “We are excited about joining the TRG family and collaborating on the next chapter of Priory’s growth. I have been consistently impressed by the similar cultural values and deep commitment to service and innovation that the companies share. The combined scale of the business will afford tremendous opportunities for us to continue that mission on behalf of our customers and employees”.