According to a statement from the company, the merger works to expand and enhance both CM group's and Cheetah Digital's abilities to deliver innovative email, omnichannel, personalization and loyalty solutions.
With an active base of 70,000+ customers, CM Group now plans to invest significantly across its portfolio following the merger. The company plans to expand its primary focus from email marketing, to overall customer engagement - giving markers the ability to acquire, engage and retain customers through the channels they believe matter most. CM Group believes the merger will allow it to utilize Cheetah Digital's Customer Engagement Suite solutions including experiences, personalization, loyalty and the engagement data platform -- in order to help further accelerate the pace of innovation across CM Group's existing products.
The merger also looks to expand CM Group's reach into the larger enterprise segment - with key Cheetah Digital customers including Hilton, Neiman Marcus, Walgreens and Williams Sonoma. By leveraging Cheetah Digital's offerings, CM Group now hopes to be able to deliver new vertical and use-case specific products to markets ranging from small and medium businesses, to enterprises across key verticals including retail, ecommerce, media, publishing, financial services, travel and hospitality, entertainment, agencies and more.
"Our merger with Cheetah Digital means CM Group will be well positioned to meet the needs of customers of all sizes and shapes, and we will continue to be their marketing technology partner as they grow by delivering the right technology at the right time, tailored to their industry and built for the scale at which they operate," said CM Group CEO Wellford Dillard. "By keeping each CM Group product distinct and focused on specific verticals or market segments, we deliver superior solutions, expertise, and outcomes for customers when compared to the large volume of generalist solutions in the market today."
As the merger takes effect, the existing owners of CM Group, including Insight Partners, will remain majority owners of the combined company. Vector Capital, which was previously a majority owner of Cheetah Digital, will become a substantial majority owner in the combined company.