July 2009 - Funnelback acquired by Squiz.
Squiz has concluded a transaction with CSIRO to acquire search engine company Funnelback Pty Ltd.
Squiz.net is a leading Content Management System (CMS) company. Its flagship product is MySource Matrix.
According to Squiz Managing Director and founder, Mr. John-Paul Syriatowicz, “The Funnelback and MySource Matrix products complement each other extremely well and we have a great many customers in common so it makes sense to bring the two organizations closer together.”
Mr. Syriatowicz said, “Funnelback will continue to be run as a separate and independent company focused on delivering specialist search solutions across a range of information types and vendor products. This, along with the retention of management and staff will ensure continuity of delivery of Funnelback products and services to all existing and future customers.”
Mr. Stuart Beil, Funnelback Executive Director said, “This outcome will benefit both Squiz and Funnelback. It will allow both organizations to focus on ways to together leverage our strengths to grow our companies as well as provide our existing customers with an enhanced overall solution set with ongoing greater integration points.”
“The added resources provided by Squiz will allow us to improve our offering to existing clients and also help Funnelback become a global brand”, said Mr. Beil.
A new Board will be established as a result of this acquisition. It will include Funnelback’s Managing Director, Mr. Brett Matson, Funnelback’s Executive Director, Mr. Stuart Beil as well as Squiz founders and Directors Mr. Stephen Barker and Mr. John-Paul Syriatowicz.
Dr David Hawking, Funnelback’s technology founder will continue in his role as Chief Scientist.
For further information contact Stuart Beil: 02 6175 8500
