Bahrain-based global investment manager Investcorp has acquired CloudCare, a leading Italian tech-enabled digital sales and marketing solutions platform active in energy, telecommunications and insurance markets.

Investcorp is yet to reveal the terms of the transaction.

CloudCare which has achieved an average annual revenue growth in excess of 40 percent, operates as a channel partner and digital broker, connecting consumers and service providers through both its own proprietary online platform and clients’ web platforms, Investcorp said in a statement.

CloudCare’s founder and CEO, Andrea Conte, will continue to lead the company.

"CloudCare has built a unique technology infrastructure and expertise which has enabled the business to become a reliable and value-add digital partner for its corporate clients seeking to enhance their digital customer acquisition strategy," Nicola Ferraris, Managing Director in Investcorp’s European Private Equity group, said

Andrea Conte, founder and CEO of CloudCare, said: "We are confident we can accelerate growth within and beyond our target core markets, reinforcing our market position in the energy and telco markets, and broadening the products and services we are able to offer also to the insurance and financial markets.”

Investcorp has previously partnered with technology-enabled services companies globally and in Europe specifically, including: Investis Digital, a global digital corporate communications and marketing company; Vivaticket, a global provider of tech-enabled ticketing management solutions; ABAX, a telematics solutions provider in Europe; and SecureLink, one of Europe’s largest dedicated cybersecurity infrastructure and managed services providers.

(Writing by Seban Scaira; editing by Daniel Luiz)

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