dotDigital Group plc Comapi CPaaS technology integration complete (7684Z)
22 May 2019 - 4:00PM
UK Regulatory
TIDMDOTD
RNS Number : 7684Z
dotDigital Group plc
22 May 2019
22 May 2019
dotdigital Group plc
("dotdigital", "Company" or the "Group")
Comapi CPaaS technology integration complete
dotdigital Group plc (AIM: DOTD), the leading 'SaaS' provider of
an omnichannel marketing automation and customer engagement
platform, is pleased to announce that it has successfully completed
the integration of the Comapi CPaaS technology into the Engagement
Cloud platform of the core dotmailer SaaS-based marketing platform.
The acquisition has delivered its core strategic objective which
was to accelerate the route to market of our Omnichannel Engagement
Cloud offering. The Company acquired Comapi in November 2017.
As part of the integration plan, the Board has identified that
part of the Comapi business, Dynmark and Donky, is non-core to the
Group's operations. Following the completion of a thorough review
of this business, the Board has decided to wind down this division.
There will be a small team put into place to support current
clients and partners. This course of action is expected to be net
cash flow positive and allows the Company to increase future
investment in its higher margin core SaaS Products.
The fully integrated Omnichannel Engagement cloud offering has
already started to provide tangible benefits in terms of
prioritisation of resource allocation, strengthening of the talent
pool, investment into the core business and clarity of marketing
message.
Moving forward Dynmark and Donky will be classified as a
discontinuing trading division and the board expect an IFRS3
adjustment to goodwill.
The Company intends to release a trading update covering the
full year results of the Company for the period ending 30 June 2019
in mid-July 2019.
Milan Patel, CEO of dotdigital, commented:
"The Company is pleased to confirm today the successful
completion of the Comapi technology integration. At the time of the
acquisition we confirmed that Comapi was part of our roadmap in
executing our strategy of becoming an omni-channel marketing
automation platform. The acquisition has enabled us to enhance our
software platform more quickly and more effectively than could be
achieved organically.
"The time is right for the Company to focus management and
financial resources on those areas which provide the highest return
on capital."
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO
CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE
MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
For further information please contact:
dotdigital Group Plc Tel: 020 3770 1502
Milan Patel, CEO
Paraag Amin, CFO
Canaccord Genuity (Nominated Adviser Tel: 020 7523 8000
and Joint Broker)
Bobbie Hilliam
Georgina McCooke
Jonathan Barr - Sales
finnCap (Joint Broker) Tel: 020 7220 0500
Stuart Andrews, Corporate Finance
Rhys Williams, Sales
N+1 Singer (Joint Broker) Tel: 020 7496 3000
Shaun Dobson, Head of Corporate Finance
Alex Bond, Corporate Finance
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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