After successfully raising €4.25 million in funding from Beechbrook Capital, Irish digital marketing software firm Xtremepush is reportedly pursuing acquisitions worth up to € 15 million.
According to co-founder and chief executive, Tommy Kearns, the acquisition plan would support the company’s organic growth and help ‘place boots on the ground’ in the US.
Kearns told the Irish Times: “Our strategy is to continue to grow Xtremepush organically and through acquisitions. For example, we are looking at potential deals in the area of machine learning. We’re also going to put boots on the ground in New York.”
Kearns clarified that while Xtremepush remains involved in €2-€5 million worth of ‘bolt-on’ acquisitions, the Beechbrook partnership provides more ‘firepower’ to target larger buyouts.
He explained the company had already had talks with potential acquisitions, but for a contract ‘nothing deep enough yet.’
In addition to driving its growth in the US, Xtremepush stressed that Beechbrook’s additional funds would be used to expand its European operations – having already developed offices in several Central and Eastern European cities, as well as Turkey.
Xtremepush, which provides its consumers with digital marketing solutions, has set a target of €40 million in recurring annual sales over the next three years – as Kearns pointed out, the company has been ‘profitable since the business was 20 months old.’ Currently its customers include Paddy Power Betfair, AIB, Leinster Rugby and McDonalds.