Fraud protection company’s first M&A will expand development resources by 30%
Global ecommerce fraud protection leader ClearSale has acquired innovative software company Beta Learning Consultoria e Desenvolvimento de Software LTDA (“Beta Learning”) for an initial investment of R$40.1 million, or approximately USD $7M USD, and two more installments of approximately USD $2.25 million, contingent and variable based on the company’s performance in the following 24 months.
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“The dedication and expertise we saw in this team of developers really blew us away, and we are thrilled to be able to partner with them in pioneering new developments in the space.”
The acquisition accelerates ClearSale’s research & development resources and drives growth objectives since launching its IPO last summer. The purchase helps the company keep its focus on combining forward-thinking products with the world’s largest team of fraud analysts to provide unmatched protection for online merchants. The ‘acquihire’ adds more than 100 software developers to ClearSale’s team, ensuring resources are available to continue creating cutting-edge products that stay ahead of trends in ecommerce fraud.
“Having been a client of Beta Learning for the last two years, we were well-versed in the organization’s incredible commitment to moving people forward through digital initiatives,” said Rafael Lourenco, ClearSale EVP and Partner. “The dedication and expertise we saw in this team of developers really blew us away, and we are thrilled to be able to partner with them in pioneering new developments in the space.”
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The announcement comes less than 6 months after the company’s July 2021 IPO debut. ClearSale’s CEO Bernardo Lustosa believes that the acquisition will improve the product and benefit customers and investors alike. When asked about the purchase, Mr. Lustosa said, “This acquisition makes perfect sense due to our affinities in corporate culture and commitment to agility. We believe this move will reflect not just in an advanced product and better client experience, but will also help boost our growth. ClearSale continues to grow at the same rate, between 25% and 35% per year, with slightly lower margins but on schedule.”
Beta Learning has grown exponentially since its launch in 2019. ClearSale was an early customer of the innovative boutique software development agency and found there to be alignment between the corporate cultures of the two organizations. Beta Learning’s seven founders, including current CEO Antonio Conserva Junior, will remain with the company.
