Pivotree Inc., a leading provider of frictionless commerce solutions, is pleased to announce it has completed its previously announced acquisition of Codifyd Inc. (“Codifyd“), a leading Data Services and Master Data Management firm, on November 4, 2021. The acquisition will scale and enhance Pivotree’s capability in the data management business as a foundational component of the company’s frictionless commerce strategy.
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“We are thrilled to see Codifyd become a Pivotree company, and join our mission to provide frictionless commerce solutions to our customers,” said Bill Di Nardo, CEO of Pivotree. “With this acquisition we will rapidly scale our existing multi-domain MDM practice and bring additional capabilities to market that will help leading brands to efficiently acquire, manage and enhance data across all channels to enable trusted frictionless experiences for customers.”
The expanded data management strategy capability will enable Pivotree customers to leverage their data to achieve digital transformation objectives. With the addition of the content service practice, customers will also benefit from data optimization to deliver exceptional customer experiences in digital commerce.
For the trailing twelve-month period ended September 2021, Codifyd generated USD$12.9 million and USD$2.9 million of unaudited revenue and net income respectively. Over the past 3 years, Codifyd has delivered a compound annual growth rate (CAGR) of 14% on total revenue, and grew 31% year-over-year for the trailing twelve-month period ending September 2021.
Under the terms of the arms-length Transaction, a total purchase consideration of USD$12.0 million of cash is paid in connection with the closing of the Transaction. In addition, the sellers may be entitled to receive an additional earn-out payment subject to the satisfaction of certain net revenue targets for the 2021 fiscal year, ending December 31, 2021. No finders fee was paid in connection with the Transaction.
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