MailUp acquires majority share of Spanish email marketing company

MailUp S.p.A. on Monday announced the acquisition of 70 percent of Acumabmail SL, with the option to acquire the remaining 30 percent of the company three years after signing the agreement.

Acumbamail is the leading company in the email marketing industry in Spain. Founded in 2012, the startup has experienced sales growth of over 200 percent and EBITDA of approximately 30 percent.

“We have been deeply impressed by Ignacio and Rafael and their skills,” Giandomenico Sica, MailUp partner and Acumbamail BD chairman, said. “In a very short time, these two young entrepreneurs created a smart company that has quickly become a very promising player in our industry. We believe that we can mutually benefit from our experience and technical expertise, and create a very exciting new reality together. We look forward to starting our collaboration very soon.”

Through the acquisition, MailUp aims to be a stronger contender in Spain and in Latin America.

“This acquisition helps us in two key areas,” MailUp CEO Nazzareno Gorni said. “Thanks to Acumbamail, we do not only gain experience with the freemium model, but we also accelerate our penetration in Spanish-speaking countries. Last year we started entering the Spanish and Latin American markets, fully aware of the big opportunity offered by a fast growing digital market with ample opportunity for further growth.”