Efficy, a Belgian customer management software company, has just acquired the Spanish company Suma CRM, dedicated to the same sector, but specialised in SMEs.
The amount of the transaction is €2.1 million.
Despite this acquisition, the Spanish firm will continue to operate independently.
In the process of business transformation, the customer has been placed at the centre of their strategies.
Knowing their needs, their tastes and being able to anticipate them is now the main challenge for companies and, to achieve this, the main solution is to integrate a Customer Relationship Management.
CRM helps companies to strengthen customer relationships and build customer loyalty. It is increasingly present in corporate finance.
The company was founded in Belgium in 2005, is Europe's most comprehensive CRM for medium-sized and large companies.
At present, Efficy has an annual turnover of around €20m, 175 employees and a presence in 33 countries.
In order to be present in Spain and to enter the SME market, which is new to them, on 22 October bought the Spanish Start Up, for an amount of 2'1M€.
The payment for the acquisition has been divided into several instalments:
It should be noted that the first payment upfront 750,000 and the other two will be variable until the agreed amount is reached.
It is a company dedicated to the development of customer management software for SMEs.which was launched 4 years ago.
The headquarters are located in Madrid, and its monthly turnover is around 50,000 euros.
It was mainly controlled by its two co-founders, who shared 66% of the shares, plus the first two employees, another 18%.
Another 10% of people from the entrepreneurs' environment, and the rest from Jean Derély, founder of several technology companies.
On integration, SUMA CRM will remain independent for life, although it will have much of Efficy's technological machinery.
This will allow you to further accelerate and fine-tune your technology.
Initially, it was born simply to address the needs of its founders with previous businesses that needed to earn income.
Thus a first version was created, which, after being polished, led to a second, this time open version.
With it, and through a website, the firm could now be used by other users and, in addition, a blog was included where the evolution of the company could be told.
Unlike other companies that publish what happened weeks or months later, SUMA CRM does it on the spot, "in the heat of the moment", as they themselves state.