The two companies both sell enterprise marketing tools. Zoominfo, founded in 2000, has a database of 100 million business professionals worldwide. DiscoverOrg also offers sales prospect data as part of a larger software platform.
Terms of the deal were not disclosed, but Xconomy Boston pegged the acquisition at more than $500 million. ZoomInfo was previously acquired by private equity firm Great Hill Partners for $240 million in 2017.
Xconomy reported that the combined company will have 1,050 employees, with DiscoverOrg making up 60 percent of the workforce.
The combined company will also have nearly 15,000 customers and 120,000 active users. DiscoverOrg plans to bring both services into one system over the next year.
“High-quality data is the fundamental go-to-market requirement for growth,” DiscoverOrg co-founder and CEO Henry Schuck, who helped start the company as a 23-year-old in 2007, said in a statement. “In the near future, CRM and marketing automation systems will be defined not by their empty-box capabilities but by the data that is housed inside them.”
This is the third acquisition for DiscoverOrg, which swooped up RainKing in 2017 and iProfile in 2015. The company’s backers include TA Associates, The Carlyle Group, and 22C Capital.