LeadDesk expands its portfolio with the acquisition of top artificial intelligence and machine learning expert GetJenny Ltd
Insider information until 14/7/2021 at 13.00
Unofficial translation of press release. In case the document differs from the original, the Finnish version prevails.
LeadDesk is a European SaaS contact center software vendor. The company is now expanding its service portfolio with the acquisition of the entire share capital of GetJenny Ltd – a Finnish company specialized in automating customer service with artificial intelligence and machine learning. The acquisition also strengthens LeadDesk’s offering in the enterprise sector. The acquisition does not impact LeadDesk’s previously released forecasts for 2021.
GetJenny Ltd is a SaaS company specialized in automating customer service. Their no-code chatbot solution enables exceptional customer experience. GetJenny is the product of over five years of technological development and is based on profound insights about the importance of customer experience in automated customer service. In 2020, GetJenny’s revenue was €1.4 million with an operating margin of 19.6%. The company employs 20 professionals.
GetJenny’s customers are large enterprises that operate in, among others, the healthcare, insurance, and energy industries as well the public sector. Together with GetJenny, LeadDesk can now offer customers an even more extensive AI based product portfolio.
LeadDesk is interested in acquiring companies with leading expertise in artificial intelligence, omnichannel, workforce management and automation. The acquisition of GetJenny is first and foremost an investment in AI and automation. The investment supports the company’s growth strategy and the goal of building strong shareholder value.
The total acquisition price, around 2.1 million euros is paid as a private share issue of around 91 819 shares to the sellers on November 1, 2021. The subscription price of 22,98 euros corresponds to the volume-weighted average price of the share during May 24–July 5, 2021. At the time of transaction, the new shares constitute approximately 1,7 % of LeadDesk Plc’s outstanding shares. The debt-free acquisition price is 3.8 million euros. At the time of closing, LeadDesk receives around 1.7 million euros as debt, of which around 0.6 million euros will be repaid. The acquisition will be closed and GetJenny will be reported as part of the LeadDesk Group starting from 1 August 2021.
LeadDesk CEO Olli Nokso-Koivisto:
”I am super-thrilled that we can include GetJenny – or Jenny as we like to call it – in LeadDesk’s internationally growing team. Jenny, an artificial intelligence chatbot service, is executed brilliantly and creates an exceptional customer experience. Together we can push the boundaries of the development of AI and machine learning and open doors for Jenny’s international expansion. Our previous acquisitions have progressed as planned and the acquired companies are deep in our integration process. That’s why right now was a good time to move forwards with Jenny.
You could think of Jenny as a new LeadDesk employee. She adds value to our customers by using AI to free up customer service resources. We feel that Jenny has now graduated from college and is ready to shine in the international business world. I’m super-thrilled that Jenny is now a part of our team, and we can offer Jenny’s services to our customers as an integral part of our service portfolio. We wish Jenny the warmest of welcomes to LeadDesk’s outstanding international super team.
Main benefits of the acquisition:
- LeadDesk executes its strategy by strengthening its position in the enterprise sector and in industries critical to society, such as health care and the public sector
- The acquisition greatly increases LeadDesk’s capabilities in artificial intelligence, machine learning and automation and opens new opportunities for international growth
- The acquisition expands LeadDesk’s service offering to include customer service automation.
LeadDesk is a SaaS company that offers a cloud software for customer service and sales. LeadDesk’s business is international and fast-growing. The company has become a leading service provider in the Nordics. During its 10-year history, LeadDesk has proved that its business model works in Finland and scaled the model to six other European countries.
GetJenny Ltd CEO Teemu Kinos:
”I couldn’t have imagined a better home for GetJenny than LeadDesk. Our cultures are an exceptional match and it’s great to become a part of LeadDesk. Together we can offer a competitive automation solution and scale it internationally. We’re thrilled to become a part of LeadDesk’s international top team.
GetJenny Ltd’s Key Figures
|Revenue||1 409||1 029|
|R&D costs in the balance sheet||2 015||1 335|
|Balance sheet||2 269||1 779|
|Equity ratio, %||28.6%||35.1%|
|Net gearing, %||43.2%||50.2%|
Forecast for 2021 remains unchanged
LeadDesk will maintain strong comparable revenue growth and continue operating profitably.
Board of Directors
+358 44 066 5765
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LeadDesk in brief
LeadDesk is a fast growing and internationalizing software company, operating in the cloud-based software market in Europe. The company offers the LeadDesk cloud service for high volume sales and customer service and has grown to a leading cloud service vendor in sales and customer service in the Nordics. In 2020, the company’s revenue was €13.8 million. The share of international license revenue was approximately 52% of total license revenue. LeadDesk’s shares are traded in the Nasdaq First North Finland market under the ticker LEADD. The company has offices in seven European countries. The LeadDesk cloud service is used by over 1,000 customers around the world. www.leaddesk.com