operation worth 70 million – WWN
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TeamSystem, an Italian technology company that develops digital solutions for business management, has acquired from Growens, one of the leading groups in Europe for cloud marketing tools, the business focused on marketing automation and the data economy, made up of the MailUp, Contactlab and Acumbamail business units. The two parties signed a binding agreement and the completion of the transaction is tentatively scheduled for June 2023.
The business units
The transaction provides for the sale to TeamSystem of the equity investment representing 100% of the share capital of the companies Contactlab Spa, in which the company branch relating to the MailUp business unit will be contributed, and of Acumbamail SL, at the total agreed price of 70 million euros to be adjusted on the basis of consolidated net financial position and net working capital of the target companies. The acquisition of MailUp, Contactlab and Acumbamail allows us to strengthen our positioning in high-potential markets – commented Federico Leproux, CEO of TeamSystem – 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 continuous diffusion of e-commerce.
Consolidate the role in the sector
The operation is in line with TeamSystem’s development strategy, as it allows to consolidate and further develop its presence 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 enterprises, both in Italy, thanks to MailUp and Contactlab, and in Spain, with Acumbamail. Joining the TeamSystem group will open up new horizons of integration and development for them both for business and for people – said Nazzareno Gorni, founder and CEO of Growens -. At Growens, we will leverage the resources raised by the transaction to accelerate the growth trajectory of businesses with the greatest potential and in full scale-up phase
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