TeamSystem – an Italian tech company operating in the development of digital solutions to manage the business of enterprises and professionals – announced the signing of a binding agreement for the acquisition from Growens of the business focused on marketing automation and data economy, made up of the business units MailUp, Contactlab, and Acumbamail, for a total consideration of Euro 70m.
The deal will provide Growens with a material source of liquidity, which will enable, on one hand, dimensional and capitalization growth, via the strengthened investment capability in the Group’s fastest-growing businesses, namely BEE, and on the other hand to deliver returns to stakeholders.
For Growens, the sale of the Email Service Provider business implies the transfer of a headcount of ca. 260 people in Italy, Spain and Denmark, including Messrs Luca Azzali, Alberto Miscia and Massimo Fubini, who will take on roles within the transferred activities, while remaining shareholders of Growens S.p.A..
The transaction is in line with TeamSystem’s development strategy, as it enables further strengthening and development of the group’s technological value proposition – which will therefore be stronger in the marketing automation and data economy sector – completing the range of solutions aimed at business development and digitization of SMEs’ entire value chain, both in Italy, thanks to MailUp and Contactlab, and in Spain, with Acumbamail.
Specifically, MailUp is the Growens group’s business unit engaging in multichannel marketing automation. Founded in 2002 in Cremona, the company has grown over the years to become the market leader in Italy, getting constantly stronger abroad, with around 10,000 customers worldwide. Thanks to Contactlab’s recent admission into the group, the MailUp supply side featured new solutions, including Customer Data Platform and advanced Marketing Automation.
Acumbamail is an email and SMS marketing technology provider based in Spain, which, through a next generation platform, offers services with a freemium business model suitable for micro and small businesses.
TeamSystem is an Italian tech company in the market of digital solutions to manage the business of companies and professionals. The Group – founded in Pesaro and with a 40-year track record – reported a turnover of €545 million in 2021. TeamSystem can count on a network of over 550 structures with partner software and direct offices, serving over 1.7 million customers operating on proprietary digital platforms and in the Cloud.
Growens (GROW) is a player in the field of Cloud Marketing Technologies, with thousands of clients worldwide. Its suite of SaaS and CPaaS solutions enable SMEs and large companies to effectively communicate with their customers in ever-changing ways. Starting with MailUp, since 2002 the Group has embarked on a path of constant organic and external growth, which culminated in the launch of innovative products such as BEEfree.io. The company has been admitted to trading on the multilateral trading system called Euronext Growth Milan (EGM) as from 2014, with a float of around 35%.
FinSMEs
04(02/2023