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Sendinblue acquires MeetFox

The IT and telecommunications sectors are seeing numerous mergers. To rapidly gain market share and develop new solutions, start-ups are positioning themselves on target companies. Experts at AURIS Finance, a merger and acquisition consultancy, give you their analysis.

In less than a year, Sendinblue, a specialist in digital marketing solutions for SMEs, has made no less than four acquisitions. The French start-up has just acquired MeetFox, an appointment scheduling software. This latest move follows three successive acquisitions in 2021 and 2022.

The first was the acquisition of the Bulgarian company Metrolo, followed by Russia’s Chatra and finally PushOwl, a company of Indian origin, all acquired for a total of €40 million. With the acquisition of MeetFox, Sendinblue now employs 550 people. The stated aim of the group’s CEO is to “become a Salesforce for SMEs, covering all aspects of customer relations”, Armand Thiberge told the French newspaper Les Echos.
The French start-up has positioned itself in the digitalisation of tools for SMEs. With MeetFox (acquisition price not disclosed), Sendinblue is now able to offer locally hosted videoconferencing solutions, enabling companies to communicate without having to use external solutions.

Sendinblue is growing through successive acquisitions

To support its growth, the French start-up raised €140 million from Bridgepoint Development Capital and bpifrance in October 2020. It also counts Partech among its historical investors. In order to accelerate its development, the group, which was founded in 2012, had already raised funds in 2017. This substantial cash injection has enabled Sendinblue to expand its range of services. With each new acquisition, the French start-up has managed to add a new service component to its solution, becoming a global platform for marketing and sales solutions for SMEs. As a result, the group’s turnover has soared, increasing by 60% to €50 million in 2020.

A highly bullish market

The digitalisation of companies is well underway. With it comes a wide range of solutions, from dematerialised HR management platforms to internal organisation tools such as videoconferencing software. Sendinblue estimates that the global videoconferencing market will reach €11.7 billion by 2028, up from €5.6 billion today. For these new competitors, the race for growth is on. They all know that it is not only the latest innovations that will win over clients, but also the most robust and long-lasting players. Against this backdrop, innovative companies are focusing on inorganic growth as a means of expanding rapidly and developing global solutions. French company Lucca, for example, has just raised €65 million to accelerate its development in the HR software market.

Get the support you need

Innovative companies that own e-solutions for businesses are currently operating in a market full of opportunities. Some may choose to expand rapidly through acquisitions, while others may be the target of takeover bids. Whatever your situation, AURIS Finance’s specialists are at your side. With their sector expertise, they are able to assist you during a merger and acquisition operation.

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