CM Group, the parent company of Australian-founded email marketing platform Campaign Monitor, has acquired martech business Vuture and secured US$410 million financing.
Terms of the deal, which closed this month, were not disclosed.
Vuture is a cross-channel marketing platform for legal and professional service providers. As a result of the acquisition CM Group will add to its portfolio vertical-specific features, functionality and expertise, as well as nearly 400 new customers – 200 based in the U.S. and include the Big Four consulting firms, Deloitte, EY, KPMG and PwC.
In January CM Group — which includes email marketing platforms Campaign Monitor, Delivra, Emma — acquired Liveclicker and Sailthru.
The $410 million financing will provide capital for future acquisitions to accelerate growth and provide technology solutions for marketers.
In an interview with Which-50 earlier this year, Wellford Dillard, CEO of CM Group said the company would pursue acquisitions which would help the company enter new verticals or geographies.
The acquisition and additional capital are intended to help the company accelerate its vertically integrated ESP strategy, which it argues will help marketers navigate the crowded landscape of martech solutions.
“CM Group’s portfolio approach allows us to work collaboratively with marketers to match them with the right platform based on their specific needs. As our customers grow, this enables them to move between platforms, while maintaining a consistent service experience throughout — something that only CM Group offers,” Dillard said.
“With its focus on professional services, high customer satisfaction, and product breadth, Vuture is a perfect fit for our family of brands.”
Vuture’s platform goes beyond email marketing and automation, offering technology for event management, content management, payments, alumni tracking, and surveys.
“We were attracted to Vuture and its offerings for their personal approach to client relations — something we pride ourselves on and is a differentiator compared to other email service providers. As a part of this dedication to customer relations and retention, we will continue to acquire innovative technologies that will bring more breadth to our offerings,” Dillard said.