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CM.com takes Conversational Commerce to the next level through the acquisition of leading Conversational AI provider CX Company

CM.com, a global Conversational Commerce platform, strengthens its customer offering through the acquisition of CX Company, a European (cloud-based) digital conversation platform designed to automatically engage customers in a personalized manner via virtual assistants, intelligent chatbots, and conversational artificial intelligence (AI). The transaction comprises a consideration of € 15.5 million (excluding a capped earn-out). Upon closing, the acquisition will be immediately accretive to EBITDA.

CM aquires CX Company

Dutch-based CX Company employs approximately 50 FTEs and recorded 2019 revenue of € 6.0 million. The company is currently active in the Netherlands, the United Kingdom, Germany and France and primarily serves blue chip customers in financial services, telecom and utilities.

Jeroen van Glabbeek, CEO of CM.com: “We believe that mobile phones will become the number one device to enable communication between businesses and consumers. Over the years we have lived up to this by consistently investing in our platform and cooperating with Apple, Google, Facebook, Tencent and many others, to enrich mobile messages with pictures, videos, buttons and various other powerful features. We are all-in on supporting our global enterprise customers to have meaningful conversations with their consumers. CX Company’s enterprise-grade chatbot technology and high added value solutions are a perfect addition to our offering and an important next step in our journey to become the world leading one-stop-shop for Conversational Commerce.”

Dirk Jan Dokman, CCO and co-founder of CX Company: “CM.com offers us a unique opportunity to accelerate our expansion strategy and jointly grow into a leading player in Europe and beyond. We are very much looking forward to being part of CM.com.”

The acquisition is expected to further boost CM.com’s growth strategy as CX Company’s multinational client base covers various industry verticals and offers numerous opportunities for cross and upselling. In addition, CX Company adds a new, fast-growing and recurring revenue stream which is primarily SaaS-based. The CX Company features of conversational AI, which will be added to the CM.com platform, provide for a next level Conversational Commerce experience. It will also meet the increasing demand we see in the market for a one-stop-shop Conversational Commerce provider, after teaming up multiple times with CX Company. It is expected to generate additional traction and accelerate our global expansion strategy, as we see increasing demand for such features from customers and prospects in regions like the Middle East, Africa and the US. The two current active founders of CX Company will remain with the company and are fully committed to execute the growth strategy.

Please have a look at our Investor Relations section for more information and the webcast on the acquisition https://www.cm.com/investor-relations/news/

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