Blackpearl Group acquires the Newoldstamp with a team in Ukraine for $3,1M
On November 1, 2022, the New Zealand company Blackpearl Group announced the acquisition of the NewOldStamp product and business with the team in Ukraine. The consideration for the deal was about $3.1 million, as the company told AIN.Capital.
- Volodymyr Zastavny founded a multi-product company, including one named NewOldStamp, in 2015. Newoldstamp is a SaaS platform that helps companies easily create and centrally manage employees’ branded signatures and use them to promote their business.
- The other products are:
- MySignature – a service that helps small businesses and entrepreneurs to support and promote their brand with the help of email signatures and online business cards, and improves the efficiency of business correspondence.
- Cheqmark – service with the help of which users can quickly organize their daily activities through to-do lists and build new useful habits.
- Blackpearl Group acquired only the NewOldStamp product and business from the NewOldStamp Inc. business segment.
- Today NewOldStamp has more than 3,600 customers spanning multiple geographies, for whom more than 5 million professional email signatures have been created. As of November 1, 2022, its website received over 1 million organic site visits annually.
- The NewOldStamp counts 27 specialists, based in Lviv, Ukraine. After the acquisition, the team will remain in Ukraine.
- Blackpearl Group describes itself as a technology company that builds, acquires, and markets data-driven cloud services. These consist of a suite of productivity and demand generation applications for small and medium-sized businesses.
- Founded in 2012, Blackpearl Group is driven from Wellington, New Zealand, and Phoenix, Arizona, USA. In 2016, the company secured backing from Tim Crown, founder and chairman of the NASDAQ-listed Fortune 500 company, Insight Enterprises. On December 2, 2022, Blackpearl Group became a publicly listed company on the NZX.
- The acquisition of the NewOldStamp business provided Blackpearl Group with a cost-effective way to broaden Blackpearl Group’s lead utilization, create opportunities to cross-sell, and access industry-leading technical expertise.
- According to Founder and Chief Executive Nick Lissette, after having completed the acquisition of NewOldStamp, it was the right time for Blackpearl Group to list and further accelerate its acquisition strategy. Market slowdowns and plummeting valuations of private businesses due to global recessionary pressures have created unprecedented opportunities in the market.
“Our strategy is about much more than simply acquiring technology businesses for their revenue, it’s about gaining access to new talent and markets, and most importantly, accelerating organic growth. Our private platform enables us to help the businesses we acquire accelerate their growth and development,”said Mr. Lissette.
- NewOldStamp will continue to operate with its existing management and staff as a wholly-owned subsidiary of Blackpearl Group. The parental company intends to continue developing NewOldStamp’s product under its old brand.
“In recent years, thanks to the professionalism of our team, we managed to achieve excellent results, so we received interesting offers from several global players. We decided to combine our efforts and teams together with the Black Pearl Group to become leaders in our niche and develop new directions,”says Volodymyr Zastavny, Founder of Newoldstamp.