Blackpearl revenue hits NZD $17.5m with US AI firm acquistion
Blackpearl Group has finalised its acquisition of US-based artificial intelligence sales automation company B2B Rocket in a move aimed at increasing its presence in the United States small and medium business market.
The acquisition sees B2B Rocket's AI outreach technology added to Blackpearl's suite of platforms, which includes Pearl Diver, Bebop, and Pearl Engine. This combination is expected to result in expanded product offerings and new opportunities for revenue across the group's customer base.
Nick Lissette, Founder and Chief Executive of Blackpearl, described the deal as a key step in targeting US business clients. He said,
"This brings proven AI outreach capability into the group and allows us to immediately go to work on integration with the Pearl Engine and our go-to-market strategy. This is a natural fit for our US SMB focus, adding real momentum to the multi-product growth path we've developed. We're not just expanding - we're accelerating."
B2B Rocket has shown significant growth in recent months, with annual recurring revenue increasing by approximately 144% in the half year to 30 June 2025. On a pro forma basis, incorporating B2B Rocket will result in Blackpearl's annual recurring revenue rising to NZD $17.5 million, which the company says is a substantial step towards its near-term target of NZD $20 million and its longer-term goal of NZD $50 million.
Lissette emphasised the significance of reaching this milestone and its implications for the company's overall strategy: "This milestone reinforces Blackpearl's ability to execute at pace and deliver on its strategic growth pathway."
The terms of the transaction include an upfront payment of USD $4 million in cash, together with the issue of 1.725 million Blackpearl shares. Additional performance-related payments are tied to specified growth targets.
Entitlement offer
To partly finance the acquisition and support the integration process, Blackpearl has launched a NZD $15 million accelerated non-renounceable entitlement offer and placement, priced at NZD $0.95 per share. The entitlement offer gives eligible shareholders the opportunity to purchase shares on a 1-for-7.70 basis, with provision for oversubscription. The retail portion of the offer is open until 5:00pm NZST on Monday, 25 August 2025.
Strong demand from investors has been reported, particularly from new Australian institutional investors, leading to over NZD $10 million of new capital already secured through the institutional segment of the offer and the placement.
Listing plans
Blackpearl has commenced an application to obtain an ASX Foreign Exempt Listing while it continues to maintain its primary listing on the NZX. This dual listing is expected to occur in roughly three months, pending a Tier 1 audit of B2B Rocket's financial statements. The dual listing is intended to broaden Blackpearl's investment base and increase exposure to international institutional investors.
Integration process
Planning for the integration of B2B Rocket has progressed since the acquisition was announced, with immediate priorities focused on product and data integration, customer migration, and enabling cross-selling opportunities across the joint platform. The company expects to begin realising initial benefits from the acquisition in the 2026 financial year.
Lissette outlined the company's expectations following the integration:
"With B2B Rocket now officially part of the Group, we're excited to bring more customers, partners and investors on our journey. Our momentum is strong, our platform is scaling and the opportunity is significant with the scale of the US SMB market."
