Constant Contact Closes Acquisition of SharpSpring

Rhea-AI Summary

Constant Contact has successfully completed its acquisition of SharpSpring (NASDAQ: SHSP), originally announced on June 22, 2021. The acquisition was approved by SharpSpring's stockholders on August 25, 2021, and as a result, SharpSpring will be delisted from NASDAQ. This acquisition aims to enhance Constant Contact's CRM capabilities, particularly in lead management, which is anticipated to provide broader opportunities for small businesses.

Positive

• Expansion of CRM capabilities through SharpSpring acquisition.
• Enhancement of marketing automation platform for small businesses.
• Broader opportunities for current and new customers.

Negative

• SharpSpring's delisting from NASDAQ may affect market perception.

Acquisition will expand Constant Contact's CRM capabilities

WALTHAM, MA and GAINESVILLE, FL / ACCESSWIRE / September 1, 2021 / Constant Contact, an established leader in online marketing, backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake") and Siris Capital Group, LLC (together with its affiliates, "Siris"), announced today that it has completed its acquisition of SharpSpring ("SharpSpring") (NASDAQ:SHSP).

The transaction, which was originally announced on June 22, 2021, was approved by SharpSpring's stockholders on August 25, 2021. In connection with the closing of the transaction, SharpSpring will be delisted from NASDAQ.

"We are pleased to welcome the SharpSpring team to Constant Contact and expand our capabilities for current customers and offer a broader set of opportunities for new customers," said Frank Vella, CEO, Constant Contact. "SharpSpring's focus on lead management will be an essential element in building Constant Contact's marketing automation platform to more holistically deliver results for small businesses."

JMP Securities LLC acted as exclusive financial advisor and Godfrey & Kahn, S.C. acted as legal counsel to SharpSpring. Lazard acted as financial advisor to Constant Contact and Sidley Austin LLP acted as legal counsel to Constant Contact.

About Constant Contact

Constant Contact, an established leader in online marketing, simplifies the complex task of marketing your business, so you can achieve real results and sell more online. Whether it's setting up an online store, leveraging social and search features to get new customers, or sending great-looking emails with the power to drive more sales, we combine the right tools and advice to help get the results you want. Plus, our award-winning team of marketing advisors is there for each customer, every step of the way. For more information, visit: www.constantcontact.com.

About SharpSpring

SharpSpring (NASDAQ: SHSP) is a rapidly growing, highly-rated, global and affordable revenue growth platform delivered via a cloud-based Software-as-a-Service (SaaS) solution. More than 10,000 businesses around the world rely on SharpSpring platforms to generate leads, improve conversions to sales, and drive higher returns on marketing investments. Known for its innovation, open architecture and free customer support, SharpSpring offers flexible contracts at a fraction of the price of competitors making it an easy choice for growing businesses and digital marketing agencies. Learn more at sharpspring.com.

About Clearlake

Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has approximately $39 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris' development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners are integral to its approach. Siris' Executive Partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris has offices in New York, Palo Alto, and Palm Beach and has raised nearly $6 billion in cumulative capital commitments. For more information, visit www.siris.com.

Contacts

For Constant Contact:
Kristen Andrews
pr@constantcontact.com

For SharpSpring:
Gateway Investor Relations
SHSP@gatewayir.com

For Clearlake:
Jennifer Hurson
Lambert & Co.
845-507-0571
jhurson@lambert.com

For Siris:
Dana Gorman / Blair Hennessy
Abernathy MacGregor
212-371-5999
dtg@abmac.com / bth@abmac.com

SOURCE: SharpSpring, Inc.

View source version on accesswire.com:
https://www.accesswire.com/662358/Constant-Contact-Closes-Acquisition-of-SharpSpring

FAQ

What is the purpose of Constant Contact's acquisition of SharpSpring?

The acquisition aims to expand Constant Contact's CRM capabilities and enhance its marketing automation platform for small businesses.

When was SharpSpring's acquisition by Constant Contact announced?

The acquisition was originally announced on June 22, 2021.

What are the implications of SharpSpring's delisting from NASDAQ?

SharpSpring's delisting may impact its market perception and accessibility for investors.

What are the expected benefits of the acquisition for Constant Contact?

The acquisition is expected to provide broader opportunities and improved capabilities for both current and new customers.