Vendasta Acquires Yesware To Bring To Market Best-In-Class Sales Engagement Platform
Vendasta and Yesware are accelerating their ability to offer CRM with sales enablement and marketing automation capabilities.
Vendasta announced the acquisition of Yesware, a private Boston-based company that offers a robust set of tools for sales teams to track email outreach activity, rapidly test what does and doesn’t work, and share that data across teams to drive better results, faster.
Vendasta, a privately-held company headquartered in Saskatoon, Saskatchewan Canada provides market-leading technology services to almost six million small and medium sized businesses through its relationships with channel partners, such as advertising agencies and media companies.
Yesware, founded in 2010, brings a tenured team with industry-leading experience and a complementary customer base to Vendasta. Yesware’s CEO, Joel Stevenson, brings much experience in building B2B business. Prior to his tenure at Yesware, he founded Wayfair’s B2B division growing it to over $400M in annual revenue and laying the groundwork for a division that now generates over 1.5B in annual revenue.
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Bringing Yesware’s sales enablement technology — including email tracking and campaign management—together with Vendasta’s end-to-end technology platform will extend new offerings to each company’s customers. With the complementary technology, Vendasta’s channel partners will have access to new sales tools that drive revenue and engagement with their customers. Combining Yesware’s technology with Vendasta’s platform will help transform the way both businesses deliver critical solutions and CRM to small and medium-sized business clients.
“Yesware and Vendasta are complementary businesses. There is meaningful alignment on every front, from core values, mission, vision, technology, culture and go-to-market capabilities,” said Vendasta CEO Brendan King. “This move will increase the speed we bring great technology to market, and pushes both companies’ product roadmap ahead significantly. I can’t wait to share this incredible revenue and efficiency booster with our customers and partners, knowing that they will recognize new revenue opportunities and find efficiencies immediately.”
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“Having worked closely with Vendasta for many years as one of our customers, I can confidently say that we share a vision to democratize technology for local businesses,” said Joel Stevenson, CEO of Yesware. “Both companies take a user-first approach to building an end-to-end sales platform users love that delivers results. I can’t wait to see what the Yesware team can accomplish, backed by a technology company that puts tens of millions of dollars into R&D each and every year.”
The deal marks an acceleration of both companies’ strategic growth plans and introduces Yesware’s significant user base of customers to Vendasta’s end-to–end platform and sales channels.
The terms of the transaction were not disclosed. TD Securities (USA) LLC served as financial advisor to Yesware, and Morgan, Lewis & Bockius LLP served as legal counsel. Osler, Hoskins, Harcourt LLP served as Vendasta’s legal counsel.
