Banzai has acquired marketing automation provider Act-On for $53.2 million, combining $20 million in cash with stock and warrants. This acquisition strengthens Banzai's offerings in the marketing technology sector, particularly for mid-market businesses. Act-On, established in 2008, has been a key player in providing affordable marketing automation, competing with notable companies like Constant Contact and MailChimp. Following the acquisition, most of Act-On's workforce will transition to Banzai, with Act-On's CEO set to depart. This move emphasizes the ongoing trend of consolidation in the martech industry.
Banzai's acquisition of Act-On for $53.2 million marks a significant consolidation in the marketing automation space, aiming to enhance its offerings for mid-market customers.
Founded in 2008, Act-On targeted mid-market companies with affordable marketing automation solutions, distinguishing itself in a rapidly evolving landscape.
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