Cloud communications platform Vercom (CPaaS stands for Communications Platform as a Service) has acquired Lithuania-based marketing automation startup MailerLite for $90 million. MailerLite received only private, non-institutional funding.
It has 1.4 million users and sister products MailerSend and MailerCheck, according to MailerLite.
The $90 million merger gives MailerLite and Vercom a more global footprint. Vercom hopes to compete with companies like Twilio and Sinch.
Krzysztof Siska, CEO of Vercom, said in a statement, “The acquisition of MailerLite opens up completely new growth opportunities for us. This means not only a sharp increase in the scale of operations, but also a confident entry into a global market that is fourteen times larger. This will also provide us with the potential for further dynamic organic growth in the coming years. With momentum, we are joining global CPaaS players like Twilio and Sinch. This is an important stage in the development of the company.”
Ignace Rubezius, CEO of MailerLite, said: “Today, people expect a seamless brand experience across all channels, and MailerLite is committed to helping businesses unify their marketing communications. We are excited to leverage Vercom’s experience in omnichannel communications, which will allow MailerLite to offer more exciting features to customers, such as SMS and push notification capabilities that integrate with email marketing.”
The CPaaS market is forecast to reach $21.7 billion in 2025. As businesses increasingly move to the cloud and adopt customizable collaboration apps, this market is expected to grow in the future.
MailerLite operates primarily in the US and Western Europe.
Credit: techcrunch.com /