Austrian company Emarsys has announced that it is acquiring marketing technology company Loyalsys. No financial details were disclosed but sources close to the deal say the acquisition is for several tens of millions of dollars. Cloud marketing company Emarsys, itself has announced earlier this month that it has entered into an agreement to be acquired by German software giant SAP, in a deal estimated at about $500 million.
Loyalsys develops advanced solutions for brands in the field of customer retention and loyalty programs. The customer has 12 employees and will be hiring more. All Loyalsys and Emarsys employees in Israel will be joining the SAP Labs development center.
Emarsys was founded by Jerusalem-born Hagai Hartman and Josef Ahorner, while Loyalsys was founded in 2018 by Yaniv Kaspi and Michael Fisch.
Emarsys provides its cloud marketing platform to more than 1500 marketing networks and ecommerce sites, including Samsonite, Wizz Air, Karl Lagerfeld, Nike and many more. The company employs 800 people around the world, with a global deployment in more than 13 offices, and a presence in Israel as well.
Hagai Hartman said after the acquisition: "The need to retain customers and maximize their value has never been more important to companies. The synergy between Loyalsys' solution and Emarsys' platform enables marketers to take customer retention and loyalty programs a big step further, with a better and more personalized customer experience in every business-customer interaction."
Kaspi said, "We are excited about the opportunity to become part of the Emarsys family. Our teams have been our partners from the first moments, as we envisioned to bring innovation to the marketing world. We look forward to our common future as part of the software giant SAP."
Emarsys CEO Ohad Hecht said, "Emarsys’ decision to acquire Loyalsys came after a highly successful business and technological collaboration between the two companies. We are happy to take our shared goals one step further and to continue providing our customers with the most advanced platform on the market."
Published by Globes, Israel business news - en.globes.co.il - on October 25, 2020
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