SumaCRM was acquired by the Belgians from Efficy for €2.1M.

SumaCRM, a Madrid, Spain-based company developing a SAAS for small and medium businesses looking for CRM tools, announced that it was acquired by the Belgian CRM publisher Efficy.

The deal was made for a total of €2.1M ($2.3M), paid by in three stages, with an upfront payment of €750k.

SumaCRM will remain independent and existing team will help with transferring all the functionalities of Efficy CRM to SumaCRM.

SumaCRM, launched in 2015 by Alfredo Nicolas Gonzalez and Tomas Santoro, positions its product as the simplest and most useful Spanish CRM for small businesses. The company has a recurring monthly turnover of €47k with 906 customers and reached break-even pin the summer of 2019.

Efficy, led by founder Cedric Pierrard, the European publisher of CRM for medium-sized and large companies, was founded in 2005 and today represents an annual turnover of €20 million, 175 employees and 2,500 customers in 33 countries.

Prior to this deal, SumaCRM raised €200k ($220k) in angel investment.