Bird makes surprise €166 million bid for rival CM.com

Amsterdam-based communications company Bird has made an unexpected move to acquire its Breda-based rival CM.com for €5.16 per share in cash — a 20% premium on the firm's most recent closing price.

If successful, the takeover would bring two prominent Dutch tech firms under one roof. The offer comes less than a year after Bird's chief executive and founder, Robert Vis, announced plans to move operations abroad, blaming “over-regulation and a bad climate for tech companies.”

In a statement, Bird said the combined company would form “a leading AI-first platform integrating customer data, marketing, support and payments across all channels”.

Both firms started as providers of SMS and app-based messaging services but now focus on customer relationship management tools.

Bird said it has already acquired a 5.1% stake in CM.com and submitted its proposal to the board. CM.com was not immediately available for comment.

Bird, founded in 2011 by Vis and Adriaan Mol, reported revenue of €489 million and an operating profit of €43 million last year. A 2021 investment valued the company at $3.8 billion.

CM.com, founded by Jeroen van Glabbeek and Gilbert Gooijers, went public in 2020. It recently cut its profit forecast for the second time this year after reporting third-quarter revenue of €65 million and EBITDA of €6 million.

Bird said the acquisition would deliver “scale advantages and operational efficiency”, strengthening its competitiveness against US rivals.

Both companies have reduced staff in recent years. Bird's workforce fell from around 800 to 459 last year, while CM.com cut staff from over 900 to around 700.

Bird said the merged business would remain profitable and cash-generative, and that that the deal would be “beneficial to all stakeholders”.