Dubai: Bahrain’s asset management company Investcorp is stocking up on its tech and digital interests, this time by acquiring Italian price comparison site operator CloudCare.
CloudCare’s website, Comparasemplice.it, lists prices for energy, telecommunications, motor insurance and personal finance products. It operates a proprietary Customer Relationship Management software, most built around an internally developed data base, and an end-to-end approach to generate sales leads and maximize conversion. Over the past three years, CloudCare had an average annual revenue growth of 40 per cent plus.
CloudCare’s founder and CEO, Andrea Conte, will continue to lead the company, having retained a “meaningful” stake in CloudCare alongside Investcorp.
Nicola Ferraris, Managing Director in Investcorp’s European Private Equity group, said: “We have an ambitious plan to support the company as it continues to grow within its core verticals and expand into new market segments. CloudCare has built a unique technology infrastructure and expertise which has enabled the business to become a reliable and value-add digital partner for its corporate clients seeking to enhance their digital customer acquisition strategy.”