As we inch towards the end of the calendar year, the acquisitions in the European tech space just keep coming, particularly in Germany. At the end of last week, Immobilienscout24 bought classmarkets, and then Zalando picked up nugg.ad while Ströer acquired Statista for €57.2 million.
Today, Cimpress, the Dutch company behind Web-to-print company Vistaprint, announced its intention to acquire its Backnang, Germany-based rival, WIRmachenDRUCK, for €132 million in cash and €8 million in Cimpress shares.
In addition, there's a potential earn-out of €40 million to be realised depending on financial performance targets for calendar years 2016 and 2017, which makes the total deal potentially worth €180 million.
Cimpress says the acquisition supports its strategy to build a "mass customization platform" that it brings to market via dedicated brands and complements similar investments Cimpress has made in other European countries. In the past, there have been similar acquisitions as well, including Vistaprint's takeover of People & Print Group in The Netherlands.
WIRmachenDRUCK will continue to sell under its German brand.