Outsell, a Minneapolis marketing technology company, has been acquired by a New York software firm in a deal worth more than $100 million.
Syracuse, N.Y.-based Impel, which like Outsell caters to auto dealers, is paying a mix of cash and equity for control of the Twin Cities company.
Outsell got its start two decades ago with a software tool enabling online chat services for a small stable of auto dealers. The company now helps thousands of auto dealers develop customized newsletters and mail promotions using a suite of software tools and employs about 170 people.
Outsell CEO Mike Wethington will join Impel's board.
RELATED: Read about Eureka! Awards winner Outsell
Impel, based in Syracuse, New York, develops software for auto dealers to help make online sales was founded in 2013. Impel has offices in New York, Canada, Georgia, London and Australia.
This is the third acquisition Impel has made in the past three years, acquiring Pulsar AI 2021 and CarLabs.ai in 2022. Last year, Impel received a $104 million growth equity investment led by Silversmith Capital Partners. Impel CEO Devin Daly was named an Ernst and Young Entrepreneur of the Year 2024 award New York finalist.
With the acquisition of Outsell, Impel stated the company will serve more than 8,000 dealers in 51 countries. This acquisition enables Impel to provide a unified AI platform that connects every channel and touchpoint across the automotive retailing ecosystem, said Daly in a statement.
"The combination of intelligent automated outreach coupled with conversational AI is a game changer that will enable dealers of all sizes to deliver exceptional customer experiences while also driving meaningful process and productivity improvements," Daly said in a statement.
Impel plans to expand its open partner ecosystem as well as platform expansion through organic product development efforts and selective acquisitions.
