Polish e-mail communications company Vercom acquires MailerLite

On the Warsaw Stock Exchange listed company Vercom, which builds global cloud communications platforms, signed an agreement for € 84 million to acquire the Lithuanian startup MailerLite. Ellex in Lithuania represented the buyer.

MailerLite started in 2010 as a Lithuanian startup, and is currently a global e-mail company – a supplier of email communication tools for business customers. The group’s main markets are the United States and Western Europe, which ensures more than 70% group’s income. Meanwhile, Poznań-based Vercom has a powerful SMS in push notifications communication channels.
These two platforms will become a solid e.communication player globally by joining forces.
Vercom estimates that its customers will triple from the current 19,000 to almost 57 thousand customers operating in 180 markets. The acquisition will also allow Vercom to double its gross profit from 11.47 million to 22.73 million euros. The transaction is unique because one part of it will be financed from the buyer’s funds received in 2021 during the initial public offering and bank loans, while the remaining MailerLite shares will be exchanged into newly issued Vercom shares. Upon completing the entire transaction, the former owners of MailerLite will become Vercom’s shareholders.

The main transaction team consisted of partner Dr. Olga Petroševičienė, associate partner Rapolas Kasparavičius, senior associate Mantas Juška and associate Edvinas Džulis. Associate partner Dr. Ąžuolas Čekanavičius, senior associate Arvydas Grušeckas and associate Marijus Dingilevskis also contributed to the transaction. The project was led by the law firm GESSEL.

The “Ellex” made a legal due diligence on MailerLite, drafted the commercial agreements related to the transaction and contributed to preparing all key documents to implement the transaction.