ZENVIA announces closing of Movidesk acquisition

Rhea-AI Summary

Zenvia has successfully completed the acquisition of Movidesk, following an initial announcement on December 21, 2021. This strategic move consolidates Zenvia's position as a leading unified end-to-end CX SaaS platform in Latin America. Movidesk, known for its robust customer service solutions, reported a revenue growth of 96% in 2021, reaching R$33 million, with an ARR of R$46 million. The acquisition involved a cash payment of R$296 million and an earn-out estimated at R$320 million, with Movidesk's results integrated into Zenvia's financials starting May 2022.

Positive

• Zenvia enhances its platform with the acquisition of Movidesk, a leading customer service solution.
• Movidesk achieved 96% revenue growth in 2021, indicating strong market demand.
• The acquisition aligns with Zenvia's strategy to strengthen its unified CX SaaS offerings.

Negative

• The acquisition involves significant cash disbursement of R$296 million, which could impact liquidity.
• The earn-out structure based on gross margin targets introduces uncertainty in future financial performance.

This transaction adds a best-in-class customer service tool to ZENVIA's platform, consolidating its position as a leading unified end-to-end CX SaaS platform in Latin America

SÃO PAULO, May 3, 2022 /PRNewswire/ -- Zenvia Inc. ("ZENVIA" or "Company") (NASDAQ: ZENV), the leading cloud-based CX communications platform in Latin America empowering companies to transform their existing communications with end customers along their life cycle, today announced the closing of the Movidesk acquisition. The agreement to acquire Movidesk was previously announced on December 21, 2021.

"This transaction concludes a series of acquisitions performed by ZENVIA in the last 18 months, including D1 and SenseData, which will enable us to consolidate our position as a unified end-to-end CX SaaS platform. Movidesk will play a key role in this consolidation. We are looking forward to welcoming the Movidesk team to our world of Humanz" explained Cassio Bobsin, ZENVIA's CEO.

"Movidesk is continuously driven by a sense of uniting people with cutting-edge technological solutions to deliver the best tools, and especially experiences that exceed expectations. With ZENVIA, we can significantly ramp up our capacity and ability to provide enhanced communication through a customer service capable of answering questions about products and services, and a qualified service desk that addresses brand-related system issues," added Donisete Gomes, Movidesk's CEO.

About the acquisition

Founded in 2016, Movidesk focuses on customer service solutions to define workflows, provide integration with communication channels, and monitor tickets through dashboards and reports, offering a fully-fledged end-to-end support platform. According to the B2B Stack portal, the company is positioned as the best customer service software for medium-sized companies in Brazil.

For 2021, Movidesk revenues expanded 96% to R$33 million, while gross margin was approximately 70%. Currently it has 2,500 clients and its Annual Recurring Revenue (ARR) stands at R$46 million. Movidesk numbers will be consolidated as of May 2022 and are already incorporated into ZENVIA´s 2022 earnings guidance.

The payment conditions includes a cash disbursement of R$296 million on the closing date and an earn-out structure based on the fulfilling of gross margin targets until the third quarter of 2023, which is estimated at approximately R$320 million to be paid in December 2023. Movidesk's CEO and former controlling shareholder, Donisete Gomes, and key executives have also received 315,820 ZENVIA Class A shares, subject to a lock-up period. According to ZENVIA's M&A model, Donisete will also remain as head of Movidesk operations along with his team.

About ZENVIA 

ZENVIA is driven by the purpose of empowering companies to create unique experiences for customer communications through its unified end-to-end platform. ZENVIA empowers companies to transform their existing customer communications from non-scalable, physical, and impersonal interactions into highly scalable, digital first and hyper contextualized experiences across the customer journey. ZENVIA's unified end-to-end CX communications platform provides a combination of (i) SaaS focused on campaigns, sales teams, customer service and engagement, (ii) tools, such as software application programming interfaces, or APIs, chatbots, single customer view, journey designer, documents composer and authentication, and (iii) channels, such as SMS, Voice, WhatsApp, Instagram and Webchat. Its comprehensive platform assists customers across multiple use cases, including marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, among others. ZENVIA's shares are traded on Nasdaq, under the ticker ZENV.

Forward-Looking Statements 

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Zenvia's control.

Zenvia's actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: our ability to innovate and respond to technological advances, changing market needs and customer demands, our ability to successfully acquire new businesses as customers, acquire customers in new industry verticals and appropriately manage international expansion, substantial and increasing competition in our market, compliance with applicable regulatory and legislative developments and regulations, the dependence of our business on our relationship with certain service providers, among other factors.

Contacts

Investor Relations Shay Chor Fernando Schneider ir@zenvia.com

Media Relations – Danthi Comunicações Carla de Azevedo | (+55 21) 99361-1422 | carla@danthicomunicações.com.br Gabriel Martins | (+55 21) 98388-4801 | gabriel@danthicomunicações.com.br

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SOURCE Zenvia

FAQ

What is the significance of Zenvia's acquisition of Movidesk?

The acquisition strengthens Zenvia's position in the CX SaaS market, integrating Movidesk's customer service capabilities.

How much did Zenvia pay for Movidesk?

Zenvia disbursed R$296 million at closing and an estimated R$320 million earn-out based on performance.

What are Movidesk's revenue and growth figures?

Movidesk reported a revenue of R$33 million in 2021, with a growth rate of 96%.

When will Movidesk's financials be reflected in Zenvia's earnings?

Movidesk's financial results will be included in Zenvia's reports from May 2022.

Who will lead Movidesk after the acquisition?

Movidesk's CEO, Donisete Gomes, will continue to lead the operations under Zenvia's umbrella.