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UPDATE - dotDigital tightens ties with Magento

UPDATE - dotDigital tightens ties with Magento

Email marketing specialist dotDigital (LON:DOTD) is to be a 'diamond sponsor' at the eCommerce 'Imagine 2014' conference this month in Las Vegas.

The conference, run by eBay subsidiary Magento, brings together more than 1,700 merchants, partners, developers, digital industry experts and open source enthusiasts, from over 35 countries, for three days of networking, collaboration and cutting-edge sessions.

"This will provide a unique opportunity to further promote the dotMailer's powerful and unique features together with ease of use to thousands of merchants worldwide," said dotDigital's chief executive, Peter Simmonds.

dotDigital has been a Magento partner for two years, and recently completed the full launch of the Magento connector, which will allow eCommerce customers that use the Magento platform to synchronise their data between the two platforms.

Meanwhile, the famed ease of use and customer responsiveness of dotDigital's email marketing suite has been underscored by the results of an updated survey by independent business software review site, G2 Crowd.

dotDigital's global clients and users voted dotDigital 'Leaders' in G2 Crowd's rankings of customer satisfaction in email marketing software.

"Today’s announcement highlights the increasing level of collaboration with Magento, providing dotDigital with access to the 6,000+ Magento Enterprise retail users worldwide," said dotDigital's house broker, N+1 Singer.

"Importantly, average spend for Magento customers tends to be higher than other customers. In particular we believe that dotDigital can leverage Magento’s marketing support and PR initiatives in the US, providing a lower risk entrance to the large market opportunity in that region," the broker added.

"The shares are currently trading on a P/E [price/earnings multiple], ex-cash basis of 23x cal’14 falling to 15x cal’15. With a consistent record of strong, profitable, cash-generative growth and a high level of recurring revenues, we remain positive and believe its growth prospects are significant," N+1 Singer said.

Shares in dotDigital edged up to 32.78p on the announcement.

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