N.B. Company Sold to U.S. IT Giant
Article taken from Times and Transcript Wednesday January 29, 2014
This article is about a small technology company created in Fredericton. The company named UserEvents was created to track online transactions, and alert corporations when a consumer is having problems making online purchases. Recently UserEvents was sold to LiveOps which is a company based in Redwood City, California. The purchase price was not released, but there was a 33.3 million debt financing agreement along with the deal. After the deal was made, the seven employees working for UserEvents now work for LiveOps; the employees will still work based in Fredericton.
Jeff Thompson, the CEO of UserEvents, stated that the company's goal from the beginning (2012) was to help large organizations. Thompson got to that goal by selling to a company in California, which now allows his program to reach more than 300 companies around the world. Jeff comments on this big accomplishment by saying, "It's another feather in our cap and shows we can do tremendous things in a small town in a small province on a world stage." UserEvents is challenging old ways of doing business, and I believe it was a great step for Fredericton. Personally, it gives me great hope that other companies in New Brunswick can reach the same heights.
Wow, Great Article and i totally agree with your opinion Brianna. This is a good thing for New Brunswick and what an amazing idea from that company to create this. Sometimes i think that in a small Province like us we don't here these good news often enough but it is always fun to hear about them. Good job on your article!
ReplyDeleteIt is fantastic to hear of business ventures achieving such great heights in our province. I can only hope to achieve such dreams. Great article and reflection Brianna. This is exactly what I think about when I hear business reflection! Well Done.
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