The American Piano company Software, developer of solutions for media business announced the purchase of Ukrainian startup Newzmate. This was reported in the joint press release of companies.
The transaction amount was not disclosed.
As noted by the co-founder Newzmate Alexei Chapko, his company looked at several customers (two from USA and one from Singapore). “We chose the Piano in the first place because that coincided with them in market understanding, product vision, values and processes,” explained his decision by the Ukrainian businessman.
Following the transaction, the service automation content marketing in the media business developed by Newzmate, will be one of the flagship solutions of the product line Piano and Piano will be called ESP.
Newzmate office in Kiev will become the representation of the Piano in Ukraine, its head Alexei Chapko. In addition to the post of the General Director he will also be responsible for sales in Eastern Europe and Asia. In addition, CTO and co-founder Newzmate Dmitry Shandyba as Lead Architect Piano will continue to lead the product development.
Staff Newzmate, which is now 12 people are working in the office Piano, in the future, the team will be significantly increased, mainly due to the technical specialists. “We also store all of our relationships with existing customers and in the composition of Piano will provide them with a wider range of products and services,” said Chapko.
The service, developed by Newzmate, a fully automatiseret communication online media with readers, helping to personalize the reader’s experience, to communicate with users on a more personal and increase profits on average by 80%. At the time of the transaction the solution used more than 60 online media in 10 countries of America, Europe, Asia and Africa with a total audience of 300 million readers. In 2018, the company tripled revenue compared to last year.