The deal marks Mail Metric’s fourth business acquisition in recent years.
Irish technology business Mail Metrics has acquired UK communications management company Adare SEC to expand its operations.
As a result of the acquisition, Mail Metrics will grow its team from 150 to 600 employees, with a major revenue boost expected.
As part of the deal, MML Growth Capital Partners Ireland has invested a substantial, undisclosed amount in Mail Metrics for a minority stake. The deal has also been backed by both Bank of Ireland and AIB.
Established in 2013, Mail Metrics is a Dublin-based SaaS platform which assists financial services organisations and other highly regulated sectors to digitise customer communications and boost regulatory compliance. It claims to handle millions of communications each year such as renewal notices, claims correspondence and billing information, along with general customer communications.
In 2022, Mail Metrics won 2nd place at the Deloitte Technology Fast 50 awards, after coming 14th in the 2021 ranking.
Adare SEC was established in 1991 and operates from sites in Huddersfield, Leicester and Glasgow. It works to deliver integrated physical and digital communication management solutions for clients in similarly regulated markets. It was previously known as Opus Trust Communications but rebranded in 2022.
Mail Metric’s acquisition of Adare SEC marks its fourth acquisition in four years, following its previous acquisitions of both Persona (Ireland) and Forth Communications (UK) in 2021 and Dafil (Ireland) in 2023.
Nick Keegan, group CEO UK and Ireland for Mail Metrics, welcomed the deal, saying that it was a “landmark” day for the company.
He said that Mail Metrics acquired Adare SEC to combine the strengths of the two companies in order to “deliver innovative and compliant communication solutions for our growing client base across the UK and Ireland”.
“This acquisition is a natural step in our scaling journey,” Keegan said. “I would like to extend my gratitude to our financial backers who have made this deal possible. MML Ireland, our new private equity partner, and our banking partners at Bank of Ireland and AIB have provided invaluable support throughout the process.”
He also commended Tony Strong, the CEO of Adare SEC, and his team for building an “exceptional business with a stellar reputation in the market”.
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