Comapi is acquired by dotDigital for £1.2m consideration

A provider of intuitive software as a service (SaaS) and managed services to digital marketing professionals, dotdigital Group, has announced its completion of the acquisition of the Comapi group.

Comapi is said to be fast-growing, focused on the omni-channel messaging and cloud communication market. The acquisition has been made for a cash consideration of £11m. Potential further consideration of up to £1.2m in share options is also payable to the management team dependant on them achieving performance targets over two years.

Headquartered in Cheltenham with approximately 30 employees, Comapi has built a software platform that allows businesses to communicate with its consumers across multiple conversational messaging channels including the growing market for live chat.

dotDigital’s chief executive officer, Milan Patel, commented: “By adding Comapi to our business, dotdigital is executing on its vision to be an omni-channel marketing automation platform.

“Comapi has built an impressive platform that, integrated with our software, will allow our customers access to the next generation of consumer engagement marketing technology aiding retention and boosting our competitive advantage in securing new customers.

“In particular, this supports our KPI to grow both ARPU (average revenue per user) and recurring revenues. We are pleased to welcome the Comapi team and look forward to supporting their business plan and introducing their technology to our global customers.”

Comapi’s heavy investment in technology allows it to compete in the CPaaS (communication platform as a service) and ARN markets (alerts, reminders and notification), providing an API-based (application programming interface) omni-channel messaging platform.

Comapi had revenues of £7.8m which are primarily recurring and EBITDA of £1.2m for the year ended December 2016. Revenues for Comapi in the current financial year are growing at approximately 15 per cent based on the SAAS business model.

The board expects there to be opportunities to further expand revenues once the integrations have been completed.

Comapi has just completed a £2.7m R&D programme and on completion of the transaction will have a positive net asset position. The two subsidiaries combined are currently cash break-even after spending roughly £1m on R&D this year.