RELEASE: Spanish startup Acumbamail consolidates its leadership being acquired by the TeamSystem group

(Information sent by the signatory company).

RELEASE: Spanish startup Acumbamail consolidates its leadership being acquired by the TeamSystem group

(Information sent by the signatory company)

Ciudad Real, February 27, 2023.

With the sale, Acumbamail consolidates its position in Spain and gives a push to its international expansion. Acumbamail was founded in 2013 in Ciudad Real by Ignacio Arriaga and Rafael Cabanillas. Italian group TeamSystem enters the email marketing business with the acquisition of three of the leading European providers, Acumbamail, MailUp and Contactlab. In a total operation of €70 million. The two Spanish entrepreneurs will continue to front Acumbamail as part of TeamSystem

Acumbamail, the Spanish email marketing startup founded in 2013 by Ignacio Arriaga and Rafael Cabanillas, has recently been sold to the Italian group TeamSystem, along with MailUp and Contactlab, for a total valuation of 70 million euros. The startup, born in Ciudad Real Without external investors and always financed through its own profits, it was already acquired in 2018 by the Italian group Growens (MailUp). After this first sale, the founders have continued to run the company and it has continued to grow until a second acquisition took place, which officially took place on February 3, when TeamSystem was made jointly with MailUp, Contactlab and Acumbamail. After this operation, the Spanish company will continue to act independently, maintaining its product and its team. In addition, its current directors will continue with the project for at least two years. With just ten years in the email marketing SaaS (Software as a Service) market, Acumbamail has maintained a stable interannual growth of 30%. As of today, it also has 5,000 clients throughout Spain and part of Latin America. For Ignacio Arriaga, co-founder of Acumbamail, the sale of the company "is a source of pride, especially considering that we were born in Ciudad Real, outside of big cities, and that we have always worked from there". In addition, "it is also a recognition of bootstrapping, that is, to carry out a company without external investment, financing it with the benefits that our own activity provides". Once this operation is completed, the time has come for the Spanish company to continue growing. "Joining TeamSystem will allow us to create synergies and joint marketing strategies," adds Rafael Cabanillas. Not surprisingly, it will have a portfolio of more than 60,000 paying customers, with which "we will be able to grow together with other group companies such as Software Delsol and Billin, as well as gain traction and increase our presence in other territories globally". For Growens, the operation represents a significant injection of liquidity, which will allow it to increase its size and capitalization and focus on the business area that has seen the group's fastest growth, the email and landing page design software BEE (beefree. io)."After the acquisition by Growens in 2015, the evolution of Acumbamail has been extraordinary. The entry into the TeamSystem group will benefit from a point of view of material acceleration and synergies." comments Nazzareno Gorni, CEO of Growens. "I am deeply grateful to Ignacio and Rafael for all these years of collaboration and their fundamental role in the expansion of the Growens business in Spain and Latin America." TeamSystem, with 40 years of history and an annual turnover of more than 500 million euros, is the main digital transformation group for companies in Italy and seeks with this operation to complement the services it offers its clients with email marketing technology. Federico Leproux, CEO of TeamSystem, comments: "Thanks to the acquisition of Acumbamail, MailUp and ContactLab can strengthen our strength and position in markets such as automatic marketing, as we think they will grow considerably in the coming years."Acumbamail is a Spanish Email Marketing provider that also offers SMS packages and transactional mailings with a free model that fits perfectly for micro and small businesses. Created in Ciudad Real in 2012 by its co-founders and co-CEOs Rafael Cabanillas and Ignacio Arriaga, in 2015 Acumbamail was acquired by Growens, a European leader in Cloud Marketing technologies and listed on the Euronext Growth MIlan (EGM) stock exchange. With its intuitive, easy-to-use technology, Acumbamail has more than 3,500 paying customers and 140,000 free users.TeamSystem is a leading Italian company in digital solutions for business management and professionals. The Group was founded in Pesaro (Italy) and with 40 years of history, achieving sales of 545 million euros in 2021. TeamSystem has a network of some 550 structures including partner and direct offices, serving more than 1, 7 million customers who operate mainly on digital platforms and in the Cloud.

Contact Contact name: Rafael Cabanillas Contact description: Rafael Cabanillas Contact telephone number: 911 988 405