Nashville based company, CM Group has bought over Conversio, a South Africa based Campaign Monitor company for over $6.7 million. The purchase was revealed in a blog post written by Conversio’s founder, Adii Pienaar.
Conversio formerly dubbed ‘2016 Rebranding’ was founded in 2014 to make email marketing and e-commerce easy. It enables clients to connect with customers via email inbox to the shopping cart and beyond.
The startup focused on helping brands to run profit marketing ads while generating adequate leads and return on the amount invested in marketing.
With the purchase, Conversio will now be referred to as CM commerce. It will become the e-commerce arm of the global marketing and tech brand – CM Group, a company worth $6.3 million with a 700 member staff capacity.
Conversio’s Founder, Pienaar described the sell-off to CM Group as a deal that will impact the duo’s business. He noted that the CM Group required a product that could help its e-commerce business. Conversio came in handy for this solution, hence the purchase. Pienaar will, however, maintain his leadership position and lead the CM Commerce product team.
More on TechGist Africa:
- Nigeria’s Minister of Communication Suspends MTN’s Planned USSD Banking Charges
- UK Approves Sh1.8bn fund to Sponsor Fintech Startups in Kenya
- Kenyan-based Aga Khan Uses 3D Technology to Treat Heart Disease
- PEG Africa Raises $4mn to Offer its PAYG Energy Services in Senegal
- Mauritania-based Edtech, Eco-Warriors Wins Local Seedstar Port Louis Competition
Get real time update about this post categories directly on your device, subscribe now.