7th May 2008 – Aspiration Capital Management Backs SalesPush Spin Out from SalesTrak Limited
Today SalesTrak Limited, a leading UK-based software development company, announced the sale of its sales process CRM software platform to a new company backed by the venture capital and private equity firm Aspiration Capital Management LLP. Aspiration Capital will acquire 63.3% of the spun-out entity – to be called SalesPush Limited. Former SalesTrak Managing Director Mr Mark Donkin will join the SalesPush board. (Aspiration Capital will retain a minority stake in the legacy SalesTrak company, which will be re-named SkillsTrak).
Aspiration Capital Founder and Chief Investment Officer Dr Jeremy Howard said:
"The continued excellent performance of companies such as SalesForce (CRM) in the US demonstrates that the market for sales-orientated CRM platforms continues to exhibit substantial growth. But many of the existing products on the market are too cumbersome and expensive for most SME companies to adopt. SalesPush works for organistions regardless of their size.
We believe that SalesPush can attain a substantial position in the sales process CRM market due to its ease of use and function suite tailored to the needs of SMEs. We also believe that the future of CRM software is on-demand, and as such we are pleased to acquire a system delivered solely in this way.
Our expertise and experience in online marketing and promotion will enable us to establish a significant global community for SalesPush in a short space of time. This is the important synergy between the SalesPush platform and the expertise of Aspiration Capital Management."
