Netcall’s strategic expansion into Europe with Parble acquisition marks a significant development.
- Netcall, a customer engagement firm, acquires Belgian AI company Parble for €10 million.
- The acquisition enhances Netcall’s Liberty platform with intelligent document processing.
- Netcall expects immediate improvement in earnings per share from this deal.
- Parble’s expertise in AI-powered document handling strengthens Netcall’s insurance sector influence.
Netcall, a major player in the customer engagement sector, has strategically expanded its footprint in Europe by acquiring Belgian generative AI-powered document processing firm Parble in a transaction valued at €10 million. This expansion highlights Netcall’s commitment to integrating cutting-edge technology to enhance its offerings.
The acquisition of Parble brings specialized intelligent business processing technology to Netcall’s Liberty platform, enabling rapid integration and enhancement of its digital transformation capabilities. CEO James Ormondroyd emphasized the synergistic benefits, stating, “Parble is a valuable addition to the Liberty portfolio, enhancing our digital transformation capabilities and providing two-way cross-selling opportunities.”
With this acquisition, Netcall anticipates an immediate positive impact on its earnings per share, reflecting the deal’s strategic significance. The company aims to leverage this acquisition to expand its customer base across Europe and strengthen its influence within the insurance sector, enhancing operational efficiencies for its clients.
The total deal value amounts to approximately €9.8 million, including up to €8.7 million payable directly and the assumption of €1.1 million in net debt. An additional €4 million is contingent upon Parble achieving its revenue growth target, doubling from €1.5 million to €3.3 million within three years of the acquisition’s completion.
Parble, based in Brussels, specializes in cloud-native, AI-driven document processing solutions that automate data extraction and classification for businesses, significantly optimizing processes such as claims handling. Having processed over 58 million documents, Parble reported a notable 30% increase in revenue to €1.48 million in 2023, achieving a profit before tax of €0.17 million.
The market responded positively to this strategic acquisition, as Netcall’s shares rose by as much as 4% to 91p in London trading following the announcement. This reflects investor confidence in Netcall’s growth strategy and its ability to enhance its technological capabilities through strategic acquisitions.
Netcall’s acquisition of Parble signifies a strategic move to enhance its technological offerings and expand its European presence.
