UL acquire Futuremark
Published: 3rd November 2014 | Source: ul.com |
UL acquire Futuremark
UL, a global safety science leader, today announced the acquisition of Futuremark, the market leading provider of performance benchmarking software. Futuremark, a privately held company based in Finland, develops the world’s most widely used benchmarks for desktop computers, notebooks, tablets and smart phones. The acquisition marks UL’s entry into the software development industry, a strategic imperative for the company to help meet the growing demand for performance data.
“Embedded software is now an important part of product design. With an increased focus on mobility, we see more and more products being connected, making the Internet of Things a reality. Consequently, software quality is a significant driver of product safety and performance; and we believe that benchmarking is an important way to help our customers to improve the performance of their products,” said Stephen Kirk, VP and GM of UL Consumer Technology Division. “This acquisition provides us with an opportunity to build a new business line in testing a wide variety of technological devices so they offer the performance, safety and privacy that consumers expect.”
Market demand for benchmarking services is driven by intense global competition to improve product performance and competitive differentiation. In addition, empowered users are seeking more data to assess new products during purchase consideration.
Futuremark has been developing industry standard benchmarks since 1997. Today, Futuremark receives a new benchmark result every four seconds on average.
UL plans to increase investment in Futuremark’s product development, expanding the range and depth of the company’s benchmark offering. In addition, Futuremark will tap UL’s global scale and resources to expand into Asia and develop new market opportunities for its products and services.
“In recent years, we’ve expanded on to new platforms, our software has been adopted by the European Commission and national governments, and we’ve welcomed more of the world’s leading technology companies into our Benchmark Development Program,” said Jukka Mäkinen, CEO, Futuremark. “We’ve accomplished a lot on our own, but with UL, we’re in an even better position to achieve our goals.”
Futuremark’s focus on creating outstanding benchmarks will continue with UL’s support and investment. Futuremark’s 39 employees, including CEO Jukka Mäkinen, will join UL and remain with the company.
“Both UL and Futuremark have a longstanding tradition of neutrality and independence,” added Kirk. “I think this common cultural trait makes the two companies a great fit for each other, our employees and our customers.”
The transaction closed on October 31, 2014.
Futuremark should be well known to every regular here at OC3D. Their benchmarking software is used in almost all of our hardware reviews and aside from overclockers and other enthusiasts is used by Governments and Companies all over the world. This acquisition should help Futuremark grow as a brand, move into more industries and create more products for us to use.
Futuremark said this today,
"Today, we’re announcing a new partnership, one that will significantly strengthen Futuremark through increased investment in our people and products while protecting our independence and neutrality.
We’re excited to tell you that Futuremark is now part of UL, a global safety science organization with more than a century of expertise and innovation in the fields of product safety testing, inspection and verification services. With more than 10,000 professionals in 40 countries, UL is dedicated to creating safe working and living environments for all.
UL partners with businesses, manufacturers, trade associations, regulatory authorities, and governments to play a key role in the development and harmonization of national and international standards.
With UL investing in our people and products, we will be able to create more benchmarks with more features for more platforms. Our benchmarks will also benefit from UL’s labs, quality assurance, and marketing. But most important of all, we will continue making benchmarks with integrity within an organization that values neutrality as highly as we do. "
We at OC3D hope that everything Futuremark have said here will come true and that the company will grow and become more successful in the future.
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