Netcall, a customer engagement software leader, is branching into Europe through a significant acquisition.
- The company has acquired Parble, a Belgian AI-powered document firm, for €10 million.
- This acquisition is set to enhance Netcall’s business processing technology and expand its European customer base.
- Netcall’s shares increased by up to 4% following the acquisition announcement.
- The acquisition is expected to bolster Netcall’s presence in the insurance sector and improve earnings per share.
Netcall, a prominent name in customer engagement software, has announced its strategic expansion into the European market with the acquisition of Parble, a Belgian firm specialising in generative AI document processing. The acquisition, valued at €10 million, is expected to significantly enhance Netcall’s existing business processing capabilities.
Parble, renowned for its cloud-native solutions, provides generative AI-powered document processing that automates data extraction and classification. This technology will be integrated into Netcall’s Liberty platform, bolstering its digital transformation offerings.
The acquisition is a strategic move to expand Netcall’s customer base in Europe while also increasing its footprint in the insurance sector. Such expansion is projected to be immediately beneficial to Netcall’s earnings per share.
Following this announcement, Netcall shares saw an increase of up to 4% in early trading in London, reflecting investor confidence in the strategic value of the acquisition.
James Ormondroyd, CEO of Netcall, expressed enthusiasm for the deal stating, ‘Parble is a valuable addition to the Liberty portfolio, enhancing our digital transformation capabilities and providing two-way cross-selling opportunities. We look forward to improving our customers’ operational efficiency together.’
The total cost for the acquisition is approximately €9.8 million, which includes the assumption of €1.1 million in net debt. The deal stipulates an additional €4 million payable if Parble doubles its revenue to €3.3 million within three years.
Parble has processed over 58 million documents and recently reported a 30% increase in revenue to €1.48 million. This financial turnaround involved a positive swing from a loss to a profit before tax within the last year.
Netcall’s acquisition of Parble represents a strategic advancement in its European expansion and technological capabilities.
