Take Note, a U.K.-based company that provides transcription, captioned and note-taking services for the market research sector, has been acquired by Verbit. Verbit entered the market research space with this acquisition.
The terms of the deal were not disclosed by the company. In November, Verbit said it would double down on its acquisition strategy with the proceeds of its most recent $250 million Series E funding. Last year, it acquired a captioning product and solution provider for $50 million and an education and government transcription company for an undisclosed amount.
Tom Livne, founder and chief executive officer of Verbit, said in an email interview that Take Note's current CEO David Abbott will remain in his position to lead the company and support continued growth and integration efforts. 28 employees will join the team. Verbit will now serve more than 2,500 customers after the acquisition of Take Note.
Since 2006 Take Note has offered a compliance service.
The company's niche, high-end audience appeal made it a natural fit to join the Verbit Group as we continue to grow our specialized teams and technologies.
Livne said that Verbit wanted to solidify its service by bringing in the expertise of a leading market research transcription company. Verbit says the acquisition will allow it to improve its performance.
Abbot said in a statement that they were thrilled to join forces with Verbit and add their Market Research transcription and live note-taking solutions to its broad portfolio.
Verbit will accelerate its growth with additional strategic acquisitions.
To support customers in Europe, the company will use Take Note's office in the U.K. Verbit has more than 350,000 employees in New York, Colorado, Pittsburg, Palo Alto, Canada, Tel Aviv and Kyiv.
Livne said that out of 37 employees in Kyiv, 10 have left and one has joined the army. The rest chose to stay in Europe and Israel.
Livne said that the team has been given full flexibility and time off, and that they are in constant contact with each employee to understand their needs so that they can best support them while they focus on the safety of themselves and their loved ones.
Verbit lands $250M Series E at a $2B valuation to expand its AI-powered transcription platform
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