June 26 (SeeNews) - Romanian email marketing company White Image said on Monday that 75% of its shares were acquired by marketing group Mediapost Hit Mail, controlled by the French state postal service, La Poste.
The remaining 25% stake will remain under the control of White Image founders Gratiela Lupu and Andrei Georgescu, White Image said in a press release, without disclosing the value of the transaction.
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"White Image is our third acquisition (two companies in Romania and one in Bulgaria) and we will not stop here," said Marian Seitan, director general at Mediapost Hit Mail.
"We are confident that through this partnership we are accessing a new development potential," Gratiela Lupu added.
White Image was established in 2003 and claims to be Romania's largest email marketing company. The company booked a turnover of 1.3 million euro ($1.4 million) in 2022. White Image employs 18 people and serves a customer base of hundreds, across Europe and Asia.
Mediapost Hit Mail has been present on the Romanian market for 26 years and booked a turnover of 57 million euro last year. At end-2022, the company employed over 500 people. In September 2022, it acquired local advertising agency Ideologiq.
France's national postal service, La Poste, was founded in 1477 and is present in over 63 countries. The company ended 2022 with a turnover of 35 billion euro.
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