BURLINGTON, MA—ListEngage, a sales and marketing technology company founded by Altaf Shaikh, has been acquired by Broadtree Partners. The details of the transactions were not disclosed. Boston area Investment bank LockeBridge Captial Partners acted as the exclusive financial advisor in the
“ListEngage has a solid reputation for providing stellar services in the high growth Salesforce ecosystem and the demand for our services has been growing rapidly,” Mr. Shaikh said in a statement. “Many of the ListEngage clients include some of the most well-respected companies in the world. Keeping our clients’ success in mind, staying one step ahead was critical and adding additional resources from Broadtree will help us service our existing clients better and will allow us to add more clients to an already impressive roster.”
Mr. Shaikh said that after LockeBridge thoroughly assessed both his personal objectives as well as the Company’s needs, they provided valuable advice on how best to capitalize on future growth potential. L
“ockeBridge both introduced us to Broadtree Partners, which is a great fit for ListEngage, and guided us through the entire process,” said Mr. Shaikh.
Founded in 2005 by Mr. Shaikh, ListEngage is a premier Salesforce digital marketing services provider which assists companies to turn customer data into actionable email, mobile and social communications. For the past four years the Company has been named in the “Inc. 5000” as one of the fastest growing private companies in the country.
Broadtree Partners is a registered investment advisory firm consisting of entrepreneurial investors focused on acquiring asset light businesses.
Bryan da Frota, Principal and Operating Partner of Broadtree, said: “The ListEngage opportunity and the growth potential were obvious to us from day one…In my experience, the seasoned expertise that LockeBridge brought to the transaction was quite atypical of bankers working at this transaction size, and even much larger deals. We look forward to working with Altaf and the tremendous pool of talent at ListEngage.”
Scott Waxler, LockeBridge’s Managing Partner, commented “The pace of change in the technology, media and telecom sector has never been faster and is continuing to increase. Accelerating technology adoption rates and shorter product life cycles, are requiring increasingly creative M&A and capitalization solutions. As demonstrated with the ListEngage transaction, LockeBridge is well positioned to promptly and efficiently assess, advise and execute on its rapidly changing clients’ needs which are a result of often transformational new technology development and deployment.”
