MARKETSTAR ACQUIRES BULGARIAN AGENCY OUT2BOUND

Rhea-AI Summary

MarketStar has acquired Out2Bound, a Bulgarian sales development agency, enhancing its position as a leader in full-funnel outsourced sales solutions. Founded in 2016, Out2Bound specializes in generating top-of-funnel revenue for tech companies. This acquisition enables MarketStar to strengthen its European sales capabilities and explore growth opportunities in the Central and Eastern Europe (CEE) region. With over 1,600 employees globally, MarketStar aims to leverage Out2Bound's expertise to drive sales growth for its clients.

Positive

• Acquisition of Out2Bound enhances MarketStar's top-of-funnel revenue capabilities.
• Increased market presence in Europe, particularly in the CEE region.
• Integration of a skilled sales talent team specialized in lead generation.

Negative

• None.

SOFIA, Bulgaria, Oct. 19, 2022 /PRNewswire/ -- MarketStar, the pioneer of B2B sales and revenue acceleration, has acquired Out2Bound, a Bulgarian sales development agency that accelerates growth for technology companies through top of funnel revenue generating capabilities. The acquisition pairs two leading sales acceleration companies, further establishing MarketStar as the global leader in full-funnel outsourced sales solutions.

MarketStar has acquired Out2Bound, further establishing itself as the global leader in full funnel outsourced B2B sales.

"We constantly strive to innovate our offerings, improve our global footprint, and provide more opportunities to scale our clients' business," said Keith Titus, MarketStar President and CEO. "As we accelerate growth for clients and employees, acquiring Out2Bound provides us with an exciting top-of-funnel revenue acceleration capability and exceptional sales talent in Europe, specifically within the CEE region."

Established in 2016 and headquartered in Sofia, Bulgaria, Out2Bound has grown to become the premier partner for tech companies in the region looking to grow market share across European and North American markets. Their specialty is to provide a robust, top-of-funnel lead augmentation engine to help improve sales development and customer acquisition. The company was founded by four founding partners Teofil Shikov, Boris Georgiev, Zdravko Zdravkov and Dimitar Mitkov, all based in Sofia. Out2Bound will be fully integrated with MarketStar.

"We are excited by the prospect of joining MarketStar," said Teofil Shikov, one of the founders of Out2Bound. "MarketStar's faith in the region and strong emphasis on developing their European sales capabilities are attestant to what's in front of us. We're excited to open the door of the CEE region and provide more for customers and shareholders."

Founded in 1988, MarketStar now employs more than 1,600 employees worldwide, with global headquarters in Ogden, Utah and a large operational presence in Dublin, Ireland. The addition of the Sofia, Bulgaria office provides a strong position in how the company will serve Pan-European and international companies, allowing MarketStar to better enable clients to scale revenue globally.

"We are thrilled with the acquisition of Out2Bound," said Paul Grant, MarketStar Chief Customer Officer. "The most exciting part of this for us and our clients is Out2Bound's specialty in top-of-funnel demand generation services. This is the solution that our customers have been looking for, and this acquisition brings a world-class team that is laser focused on delivering world-class results."

Out2Bound's team aligns with MarketStar's purpose, values, culture, and strategic vision for global expansion. The current Out2Bound management team and all Bulgarian employees will continue as members of the MarketStar organization.

ABOUT MARKETSTAR

Through innovative sales solutions, MarketStar (www.marketstar.com) accelerates sales from lead to recurring revenue with business-to-business (B2B) direct and indirect sales programs. Utilizing a blend of voice, digital, and field engagements, MarketStar has launched, sold and supported thousands of products and services on behalf of the biggest and most innovative companies across the globe. Founded in 1988, MarketStar pioneered the sales outsourcing industry and today has over 1,600 employees worldwide. Their global headquarters is located in Ogden, Utah.

ABOUT OUT2BOUND

Out2Bound (www.out2bound.com) is a sales development agency that helps technology companies attract b2b clients and access new markets around the globe. It develops and executes outbound sales development strategies by being able to both plug into the company as a remote sales team and support existing teams by enriching sales pipelines. Additionally, the company can test out new markets and validate product or service market fit. Out2Bound is currently the main player in the sales as a service segment in Bulgaria and the CEE Region and has offices in Sofia and Geneva.

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SOURCE MarketStar

FAQ

What are the key details of MarketStar's acquisition of Out2Bound?

MarketStar acquired Out2Bound, a leading Bulgarian sales development agency, to enhance its B2B sales capabilities.

How will the acquisition of Out2Bound affect MarketStar's operations?

The acquisition aims to strengthen MarketStar's sales operations, particularly in the CEE region, and improve its service offerings.

What strategic advantages does MarketStar gain from acquiring Out2Bound?

MarketStar gains improved top-of-funnel revenue generation capabilities and access to a skilled sales team in Europe.

When was the acquisition of Out2Bound announced?

The acquisition was announced on October 19, 2022.

What is the expected impact of the Out2Bound acquisition on MarketStar's growth?

The acquisition is expected to accelerate MarketStar's growth by enhancing its sales development capabilities and expanding its client base.