Equistone-backed Team ITG makes fifth add-on acquisition
Global technology-led marketing business Team ITG, backed by the mid-market European private equity firm Equistone Partners Europe (Equistone), has acquired a majority stake in European creative automation software company Storyteq, based in Amsterdam.
Team ITG, founded in 2009, is an enterprise class technology and marketing services provider disrupting the global creative production market by simplifying and automating complex global marketing operations.
The new partnership with Storyteq enhances the power of CanopyCloud, Team ITG’s proprietary Cloud-based technology platform, by enabling bulk automation of rich, localised and personalised videos, adding to CanopyCloud’s existing workflow, content automation and omnichannel deployment capabilities. Team ITG serves a number of global brands including KFC, Heineken, Renault, Clarkes, IWG and World Duty Free (Dufry).
Supplementing strong organic growth, the transaction represents Team ITG’s fifth acquisition since Equistone acquired a majority stake in 2017. Such growth has taken Team ITG’s headcount to over 1,000 and has enabled the expansion of its technology and services offering.
Simon Ward, founder and CEO of Team ITG, says: “Team ITG has grown organically and completed multiple acquisitions in recent years, which speaks to the strength of our technology-led proposition and fanatical approach to customer service. This latest strategic acquisition further extends our capabilities in content automation, and maintains our disruptive position in the market. Full creative and marketing automation for major global brands is here.
“We’re incredibly excited to welcome our new partners to the Team ITG family and to demonstrate just how powerful our technology is.”
Lennard Kooy, CEO of Storyteq, says: “Team ITG and CanopyCloud were the right fit for Storyteq as a progressive, technology-led partner. We’ve joined forces to deliver full marketing and creative automation, which will be a game-changer for the industry.”