SMTP, Inc. (SMTP), a global provider of cloud-based email services, announced that it has completed the acquisition of SharpSpring, LLC's assets.
Commenting on SharpSpring, SMTP said it offers a next-generation marketing automation solution rivaling the industry's top marketing-automation platforms in terms of features, functionality and performance.
SMTP said it believes the acquisition will extend the company's product portfolio, accelerate revenue growth and provide significant long-term strategic benefits.
In connection with the acquisition, SMTP paid $5 million in cash at the time of closing and will pay up to an additional $10 million in cash and stock pursuant to an earn-out provision which is tied to achieving aggressive growth targets.
For comments and feedback: editorial@rttnews.com