US-based revenue management service provider Marketron has been acquired by private equity firm Diversis.
Following the transaction, the company previous owner BlackRock will continue to serve as an investor in the company. Diversis has appointed former Adelphic CEO Michael Collins as the new CEO of Marketron, while Jeff Haley will step down and serve on the board.
Marketron is a business software developer for revenue management and audience engagement. Some of the solutions available include digital invoicing, digital advertising management, automated payment processing, and online payment acceptance, among others.
The platform is used around the world by over 7,000 media organisations, with the company managing around $15bn in revenue just in the US.
The proceeds from this acquisition, will be used to expand Marketron’s digital offerings and boost its advertising technology. Some of the planned developments will be focused to its programmatic capabilities and revenue management products.
Marketron CEO Michael Collins said, ?Marketron has been the undisputed leader in our space, delivering the software and services that enable our media clients to grow their businesses. The new investment from Diversis will allow us to rapidly evolve our product offerings and extend our leadership position.p>
Last year, California-based revenue and billing management solution company Recvue scored a $2m funding round led by Cota Capital. The company, which was founded in 2015, raised the funds to boost its digital growth and customer success.
Earlier this week, procure-to-pay automation company BirchStreet Systems received a minority investment from Serent Capital. The US-based company uses its technology to help companies automate their accounts payable and invoicing tasks.
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