Thryv Holdings, Inc., (NASDAQ: THRY), a Dallas, Texas-based provider of SaaS solutions for small and medium-sized businesses, signed a definitive agreement to acquire Infusion Software, Inc. (Keap), a Chandler, AZ-based prominent player in customer relationship management and marketing automation for SMBs.
The total transaction value of $80m, paid in cash, is subject to customary adjustments. The transaction is expected to close in the fourth quarter of 2024, subject to satisfaction or waiver of closing conditions. The acquisition is expected to be funded by anticipated proceeds from an equity financing and borrowings under the company’s existing credit facility.
The addition of Keap consolidates Thryv’s position as a leader in the SMB SaaS space, with a combined base of over 100k SaaS subscriptions. The expanded scale strengthens Thryv’s competitive edge relative to other major players in the market, offering a comprehensive suite of solutions for SMBs, including CRM, marketing automation and productivity tools. The acquisition also expands Thryv’s North American presence.
Led by Clate Mask, CEO, Keap is a provider of solutions for customer relationship management, marketing automation, and sales optimization, primarily serving SMBs in North America, Australia, and Europe. The majority of Keap’s revenue is driven by its subscription-based recurring revenue model and extensive partnerships with various distribution channels. Keap generated approximately $85m of revenue during the trailing twelve months through June 30, 2024.
Led by Joe Walsh, CEO, Thryv provides a small business software platform that empowers small businesses to modernize how they work. It offers small business owners everything they need to communicate effectively, manage their day-to-day operations, and grow — all in one place — giving up to 20 hours back in their week. Thryv’s customizable platform features three centers: Thryv Command Center, a freemium central communications hub, Business Center™ and Marketing Center™. Approximately 300,000 businesses globally use Thryv to connect with local customers and take care of everything they do, start to finish.
FinSMEs
29/10/2024