Teamsystem, a 70 million operation to strengthen marketing automation
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A 70 million euro operation with which Teamsystem will bring home MailUp, Contactlab and Acumbamail: business unit of the listed Growens. The Italian tech company – founded in Pesaro, with 40 years of history and a turnover of more than 545 million euros (2021 data) – has signed a binding agreement for the acquisition from Growens of the business focused on marketing automation and the data economy. A strengthening operation in the specific segment of email service providers which envisages the transfer of hands of an activity which in September had revenues of 19 million on its balance sheet which, according to what was reconstructed by Only 24 Hours should reach 30 million at the end of 2022.
“The acquisition of MailUp, Contactlab and Acumbamail allows us to strengthen our positioning in high-potential markets such as those of automated marketing and the data economy, which we believe will grow at considerable rates in the coming years, in view of the continued diffusion of e -commerce», comments Federico Leproux, CEO of TeamSystem. And it is, after all, an operation that «follows the integration of e-commerce solutions, B2B digital payments and CRM and for this reason positions us as the ideal partner alongside around 1.7 million companies our customers”. On the other hand, for Growens, explains the founder and CEO Nazzareno Gorni, it is “an important recognition of the value created by the business units being sold and their development prospects”.
The completion of the transaction, tentatively expected by June 2023, will be subject to the fulfillment of certain conditions precedent usual for similar transactions, including the Golden Power authorizations and the favorable vote by the Growens Shareholders’ meeting, convened for 9 March and the sale of the Email Service Provider activities, explains a note from Growens, will involve the transfer of a workforce of around 260 people in Italy, Spain and Denmark.
«The operation – explains a note from Teamsystem – is in line with TeamSystem’s development strategy, as it allows for the consolidation and further development of the group’s technological value proposition, which is therefore strengthened in the marketing automation and data economy sector, and to complete the range of solutions aimed at business development and digitization of the entire value chain of small and medium-sized enterprises, both in Italy, thanks to MailUp and Contactlab, and in Spain, with Acumbamail».
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