Cxense ASA acquires Enreach Solutions OY for $2.2M
Cxense ASA, an Oslo, Norway-based company providing a Data Management Platform, announced it has entered into an agreement to acquire the Finnish Data Management Platform (DMP) company Enreach Solutions OY. The transaction was made for 100% of the share at an enterprise value of EUR 1.875M ($2.2M).
The transaction will enable the companies to capture operational synergies as well as to over time create a more integrated and competitive DMP offering and fuel the Cxense growth capabilities. In connection with the transaction, Kimmo Kiviluoto and Ville Wettenhovi will enter into new employment agreements with Enreach Solutions and Kimmo will take part in the Cxense leadership team.
The Enreach DMP features audience segmentation and campaign reporting capabilities that are complementary to the Cxense DMP and the Enreach-Cxense technology combination is already deployed and proven in 13 joint customer cases. Enreach and Cxense have worked tightly together in the European market since the companies formed a partnership in the beginning of 2017.
Enreach Solutions was established in 2010 and is led by managing director Kimmo Kiviluoto.The company currently has 10 employees. In 2017, Enreach recorded about EUR 1M in revenues and in Q1 2018 had a negative EBITDA of EUR -84 thousand.