Martello Technologies Group Inc. announced today that it has signed a share purchase agreement to acquire Savision B.V. (“Savision”), subject to final approval of the transaction by the TSX Venture Exchange and the completion of the standard conditions to closing for this type of transaction. More than 5,000 businesses and government organizations are already under management with Martello’s solutions, in 150 countries around the world. Savision was founded in 2006 and provides enterprise software for the visualization of IT systems management data such as performance metrics, outage information and incidents. Deployed in over 50 countries around the world, Savision’s software is an ITOps solution that integrates and controls monitoring, cloud, and service management tools data in a single pane of glass.
Under the terms of the share purchase agreement, Martello will purchase, through its wholly owned subsidiary, Martello Technologies Corporation, all issued and outstanding shares of Savision for an aggregate purchase price of $11,966,504, subject to adjustment, payable as follows: (i) a cash payment of $3,734,504 and (ii) the issuance of 18,709,090 shares in the Company’s share capital to the shareholders of Savision at a price of $.44 per share. A finder’s fee of $358,625 is payable to Sampford Advisors, who acted as exclusive M&A adviser to Martello on this transaction.
Transaction Highlights:
Martello’s Recurring Revenue is Accelerated
Savision’s recurring subscription-based software has more than 900 customers, with 2017 revenues of over $4.5 million (CDN). Prior to this transaction, approximately 60% of Martello’s total revenues were from subscription-based sales of software products, and this will be accelerated with the acquisition of Savision. More than 50 new partners will be added to Martello’s channel sales program. Headquartered in Amsterdam, Savision has 32 employees.
Savision CEO Stefanie Richheimer Joins Martello as Chief Revenue Officer
Stefanie Richheimer, CEO of Savision, will join Martello as Chief Revenue Officer, effective upon final TSXV approval of the transaction. Ms. Richheimer is a seasoned industry expert in Software, IT & Retail. She was the Managing Director for a market-leading consumer retail chain with 35 outlets before successfully leading her own start-up to become one of the key IT firms in The Benelux. Following that, Ms. Richheimer was an integral part of the Federal government’s Direct Foreign Investment team for the City of Amsterdam. She is also co-founder of AmsterdamPark Capital, an early-stage technology investor.
Martello’s Sales Team will Double in Size with an Expanded Global Presence
Led by Chief Revenue Officer Stefanie Richheimer, the size of Martello’s sales and marketing team will double with this acquisition, accelerating the ability to cross-sell the Company’s suite of network and IT performance management capabilities to its growing base of channel partners and MSPs. The Company will have sales personnel in Canada, the US and Europe.
The Company will Pursue Joint Opportunities in Network and IT Performance Management
Martello will team its suite of network and IT performance management capabilities, developed over more than 8 years, to address joint opportunities to solve its customers’ problems.Martello has a positive track record in merger and acquisition activity, having acquired Netvitesse in 2014, and Elfiq Networks in December 2017. The Company’s solutions have been recognized by the industry. In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company, at No. 28 on the Growth 500 list of Canada’s Fastest Growing Companies. The Company recently went public with a TSXV listing, following the closure of an oversubscribed $7.5 million private placement.
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Martello Acquires Savision B.V.
Martello Technologies Group Inc. announced today that it has signed a share purchase agreement to acquire Savision B.V. (“Savision”), subject to final approval of the transaction by the TSX Venture Exchange and the completion of the standard conditions to closing for this type of transaction. More than 5,000 businesses and government organizations are already under management with Martello’s solutions, in 150 countries around the world. Savision was founded in 2006 and provides enterprise software for the visualization of IT systems management data such as performance metrics, outage information and incidents. Deployed in over 50 countries around the world, Savision’s software is an ITOps solution that integrates and controls monitoring, cloud, and service management tools data in a single pane of glass.
Under the terms of the share purchase agreement, Martello will purchase, through its wholly owned subsidiary, Martello Technologies Corporation, all issued and outstanding shares of Savision for an aggregate purchase price of $11,966,504, subject to adjustment, payable as follows: (i) a cash payment of $3,734,504 and (ii) the issuance of 18,709,090 shares in the Company’s share capital to the shareholders of Savision at a price of $.44 per share. A finder’s fee of $358,625 is payable to Sampford Advisors, who acted as exclusive M&A adviser to Martello on this transaction.
Transaction Highlights:
Martello’s Recurring Revenue is Accelerated
Savision’s recurring subscription-based software has more than 900 customers, with 2017 revenues of over $4.5 million (CDN). Prior to this transaction, approximately 60% of Martello’s total revenues were from subscription-based sales of software products, and this will be accelerated with the acquisition of Savision. More than 50 new partners will be added to Martello’s channel sales program. Headquartered in Amsterdam, Savision has 32 employees.
Savision CEO Stefanie Richheimer Joins Martello as Chief Revenue Officer
Stefanie Richheimer, CEO of Savision, will join Martello as Chief Revenue Officer, effective upon final TSXV approval of the transaction. Ms. Richheimer is a seasoned industry expert in Software, IT & Retail. She was the Managing Director for a market-leading consumer retail chain with 35 outlets before successfully leading her own start-up to become one of the key IT firms in The Benelux. Following that, Ms. Richheimer was an integral part of the Federal government’s Direct Foreign Investment team for the City of Amsterdam. She is also co-founder of AmsterdamPark Capital, an early-stage technology investor.
Martello’s Sales Team will Double in Size with an Expanded Global Presence
Led by Chief Revenue Officer Stefanie Richheimer, the size of Martello’s sales and marketing team will double with this acquisition, accelerating the ability to cross-sell the Company’s suite of network and IT performance management capabilities to its growing base of channel partners and MSPs. The Company will have sales personnel in Canada, the US and Europe.
The Company will Pursue Joint Opportunities in Network and IT Performance Management
Martello will team its suite of network and IT performance management capabilities, developed over more than 8 years, to address joint opportunities to solve its customers’ problems.Martello has a positive track record in merger and acquisition activity, having acquired Netvitesse in 2014, and Elfiq Networks in December 2017. The Company’s solutions have been recognized by the industry. In September, Martello received a Frost & Sullivan Leadership Award for NPM (Network Performance Management) and ranked as Ottawa’s Fastest Growing Company, at No. 28 on the Growth 500 list of Canada’s Fastest Growing Companies. The Company recently went public with a TSXV listing, following the closure of an oversubscribed $7.5 million private placement.
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This entry was posted on October 15, 2018 at 8:34 pm and is filed under Commentary with tags Martello. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.