Netcall plc has expanded beyond the UK with the acquisition of Parble.
Netcall, headquartered in Bedford, is a listed provider of intelligent automation and customer engagement software.
Smart & Easy NV, trading as Parble, is behind document processing software powered by generative artificial intelligence and based in Brussels, Belgium.
The total consideration for the acquisition is up to €8.7 million, comprising an initial cash consideration of €4.7m and an earnout of up to €4m.
The deal includes the assumption of €1.1m in net debt, which was repaid at completion.
Parble automates data extraction and the classification of structured, semi-structured and unstructured data from a variety of document formats.
This technology helps businesses digitise their processes, such as claims handling, and make insight-driven decisions, particularly valuable for organisations handling high volumes of complex documentation, where efficiency, compliance and accuracy are paramount.
It has processed over 58m documents to date. It has an established footprint in the insurance and banking sector, with customers including Generali, Baloise and Vanbreda Risk & Benefits. The group’s three founders and six employees will remain with Netcall and continue to be based in Belgium.
For the financial year ended 31st December 2023, Parble reported a 30% increase in revenue to €1.48m, adjusted EBITDA of €480,000 and a profit before tax of €170,000.
James Ormondroyd, chief executive of Netcall, commented: “Parble is a valuable addition to the Liberty portfolio, enhancing our digital transformation capabilities and providing two-way cross-selling opportunities.
“We are delighted to welcome the Parble team and benefit from their expertise, and we look forward to working together to improve our customers’ operational efficiency.”
I’ve built 7 businesses… & faced these same challenges every time