A Tampa Bay technology company is the latest to be sold in a growing string of acquisitions.
Revcontent, a Sarasota-based marketing tech firm, sold a majority stake of its company for an undisclosed amount that was part cash and part equity, according to Revcontent officials. New York-based Star Mountain Capital and Switzerland-based Capital Dynamics led the deal.
"Revcontent has been bootstrapped since our inception, forcing us to cut our teeth differently than many technology firms," Richard Marques, CEO of Revcontent, said.
Marques said in an email to the Tampa Bay Business Journal he will keep his CEO title with the sale.
"With a certain level of pragmatism built into our DNA, this has greatly serviced us and, ultimately, our partners in a tremendous way," he said. "We've accomplished an incredible amount in terms of product evolution and revenue growth, and we continue to explore new ways to find differentiation through viable and sustainable revenue offerings to our partners."
Revcontent had $191.2 million in revenue in 2017, according to Business Journal research. It was a 2017 Fast 50 honoree and a Best Places to Work honoree in 2018.
Despite the deal, the company will largely remain "business as usual," according to Marques. Revcontent will stay headquartered in Sarasota, although the company is currently entirely remote. All leadership, management and the team will remain in place.
"The investment will help to bring more value to advertisers and publishers; Revcontent will remain the same in the best ways — and continue to get better in the areas that matter most — product innovation, user experience and monetization," he said. "Our new partners are in complete synergy with our goals and ambitions as a company, and we're thrilled to work alongside [them]."
The company is currently building out a new headquarters, slated for a fall opening in Sarasota.
Revcontent's deal is the latest in the Tampa Bay tech scene, which has had a steady stream of acquisitions since the start of the year. In May alone, five local companies were acquired, bringing the total amount to 14 companies.
