Marketing technology company SharpSpring to be acquired by Constant Contact
SharpSpring cloud-based marketing-technology company agrees to be bought by Constant Contact, an online marketing firm.
Private equity-backed Constant Contact agreed to pay $17.10 a share cash for marketing-technology company SharpSpring.
Constant Contact is backed by private equity firms Clearlake Capital and Siris Capital. The $240 million deal valuation includes outstanding debt.
What is SharpSpring?
SharpSpring, a CRM and marketing automation platform, is a fully integrated cloud-based marketing tool that offers customer relationship management, marketing automation, mobile and social marketing, sales team automation, and customer service all within one solution.
What is Constant Contact?
Constant Contact, an ESP provider, is an online marketing email company that caters to small businesses. Its platform enables business owners to launch and monitor email marketing efforts, build websites and online stores, and utilize social media, among other services.
Why the SharpSpring and Constant Contact merger is good?
The combination with SharpSpring will enable Constant Contact’s SMB customers to deliver effective marketing results, as both companies focus on small businesses. Both firms offer cloud-based software-as-service platforms.
When are the SharpSpring and Constant Contact closing?
The deal is expected to close in the third quarter of 2021.
Rick Carlson, SharpSpring’s CEO, said, “Today is a great day for SharpSpring, and our stockholders as this transaction bring immediate and certain value at an attractive premium.
I am thrilled with the opportunity to bring SharpSpring’s revenue growth platform to Constant Contact’s nearly 500,000 small business customers while also further investing in and building upon SharpSpring’s strong customer and digital marketing agency base.”
In a joint statement, Clearlake and Siris said, “This investment augments Constant Contact’s digital marketing software platform by significantly accelerating its product roadmap and enhancing the tools we offer modern-day marketers in their pursuit of key revenue-generating activities.”
They were founded as Roving Software in 1995 until its present name change in 2004 was Constant Contact. Matrix Marketing Group partnered with Roving Software in 2002, and as Roving Software transitioned to Constant Contact.
“It’s funny how things have come full circle for us at Matrix Marketing Group,” said George Schildge. He continued, “We look forward to a strong partnership with Constant Contact as the two companies merge with a solid product roadmap.
What is marketing automation software?
Marketing automation is all about using software to automate marketing activities. Many marketing teams automate repetitive tasks such as email marketing, social media posting, and even ad campaigns. As a result, these marketing platforms can provide a more personalized experience for their customers.
What is ESP software?
An ESP is a company that helps you send email marketing messages by offering an email marketing platform or email tool.
How does marketing automation help a small business?
Marketing automation enables businesses to execute, automate, and drive behavior-based marketing campaigns.
What is a small business CRM?
Small business customer relationship management, like SharpSpring, is the cultivation of client communications, marketing, and sales through technology specifically designed for small businesses.