B2B-focused sales and marketing lead generation platform provider Cognism has acquired the technology assets of Ricochet, a UK startup that has pivoted a few times since its inception but is now behind an eponymous Google Chrome extension for sales professionals and recruiters.
No word on the price, but we understand it's an all-cash transaction.
Cognism expects the purchase to strengthen its data offering, as Ricochet's solution is used by over 1,200 businesses worldwide today. It banks on data aggregation to profile and qualify businesses in near real-time, helping sales teams, recruiters, business owners and the like to quickly identify new customer opportunities.
Ricochet was started back in 2018 by Paul Smith OBE, who previously founded UK accelerator Ignite and worked in senior roles in the Government of Dubai and Hyperloop One, and social video platform Reframed co-founders Jo York and Kev Price.
The trio's company was backed by the North East Innovation Fund and angel investors such as Friends Reunited founder Steve Pankhurst, Central Working co-founder Steve Pette and serial entrepreneurs Tristan Watson and Doug Scott.
As we understand, the Ricochet team will not be joining Cognism as a result of the deal, and focus on other endeavours instead.