CM.com, a global Conversational Commerce provider, has completed the acquisition of CX Company, a European (cloud-based) digital conversation platform designed to automatically engage customers in a personalized manner via virtual assistants, intelligent chatbots, and conversational artificial intelligence (AI).
CM.com announced its intent to acquire CX Company on 26 May 2020. The transaction comprises a consideration of € 15.5 million (excluding a capped earn-out), of which € 4.0 million has been paid in shares. Hence CM.com issued 262,467 new ordinary shares at a share price of € 15.24, which equals the average closing price per CM.com share for the 22 trading days preceding 9 June 2020. The sellers of CX Company are not bound by a lock-up period. As of 2 July 2020 the total number of shares outstanding amounts to 26,522,321.
The acquisition will be immediately accretive to EBITDA.