Acquisition Overview - Banzai International Inc has signed a definitive agreement to acquire Act-On Software Inc, an enterprise marketing automation platform provider [1] - The acquisition is projected to increase Banzai's revenue by 53.2 million, consisting of 20.0 million in cash [5] Act-On Software Profile - Act-On is an AI-powered, easy-to-use marketing automation platform with an open data architecture [2] - The platform focuses on enhancing team efficiency and customer engagement across all communication channels [2] - Act-On serves enterprise clients including Hitachi, BestBuy, Progressive Insurance, Sharp, Flextronics, Red Lions Hotels, and SKF Group [2][6] - Key features include lead generation, automated multi-channel marketing, customer journey orchestration, email personalization, customer data management, and sales intelligence [6] Strategic Rationale - The acquisition aligns with Banzai's vision to build a comprehensive suite of AI-driven marketing tools [4] - Act-On's software complements Banzai's existing suite of tools for data-driven marketers [3] - The integration will help marketers create smart, effective programs to drive growth and increase customer lifetime value [3] - Banzai aims to make marketers' jobs easier through AI and seamlessly integrated solutions [3] Transaction Details - The transaction is expected to close in February 2025, subject to customary closing conditions [5] - Additional details regarding the acquisition are included in Banzai's Form 8-K filed with the SEC on January 23, 2025 [5] Company Background - Banzai is a marketing technology company providing AI-enabled marketing and sales solutions for businesses of all sizes [7] - Banzai's customer base includes Cisco, New York Life, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle, and Globe Life [7][8]
Banzai Announces Definitive Agreement to Acquire Act-On Software, Growing TTM Revenue 152% to $44M