Adrian J Cotterill, Editor-in-Chief
When it’s billed as a merger but at the same time it says that “Grassfish will now be a part of the Vertiseit group, with local presence in Germany, Austria, the United Kingdom and Sweden” then you know it was an acquisition and definitely not a merger of equals.
The press release said “Grassfish and Vertiseit merge to become the market-leading platform company within Retail Digital Signage in Europe. Together they strengthen their service offering and coverage for global brands and retailers. The joint vision is to shape the future of retail with Digital In-store solutions”.
The Sweden-based Vertiseit group of course had already acquired DISE International AB back in 2017
Left to right: Oskar Edespong, CTO / Co-founder, Vertiseit; Johan Lind – CEO / Co-founder, Vertiseit; Roland Grassberger – CEO / Co-founder, Grassfish; Alexander Korte – CFO / COO, Grassfish
Grassfish will now be a part of the Vertiseit group. We are told that both companies have experienced rapid growth in the last few years, with international customers in more than 70 markets worldwide.
Johan Lind, CEO Vertiseit said “Grassfish is an inspiration and thought-leader within the industry. The companies are a perfect fit, both from a cultural as well as a strategic perspective. And most importantly, we share the vision on how Digital In-store will shape the future of retail”.
Grassfish, headquartered in Vienna, was founded in 2005 and a market leader in the DACH region. The company has global contracts and leading customers such as BMW, Porsche and DHL, focusing on implementing future retail needs today. Over the last 15 years, Grassfish has established great relationships with integration and hardware partners who play an important role in Grassfishs success story.
Roland Grassbergerdev CEO Grassfish Marketing Technologies said “Vertiseit and Grassfish both strongly focus on supporting large retail and CPG brands in the challenging digital transformation of their stores – with a great platform, 360-degree knowledge and innovative solutions. Together we can drive innovation, technologies and our solutions forward at a higher pace. We are excited to provide our customers with an even more comprehensive service and enable them to tap into their digital potential today. I am very happy that Grassfish found the perfect match with Vertiseit.”, says
The combined companies will have local presence in Germany, Austria, the United Kingdom and Sweden, both organisations have together 120 employees.
Grassfish was reportedly sold for €13.5m.
May 30th, 2021 at 09:38 @443
€13.5m sales price? That won’t cover the repayments to the many investors Grassfish borrowed from since the beginning. The leadership style at Grassfish was and remains chaotic, dictatorial and sour.