Black Pearl Group Limited (NZX: BPG), a high growth AI-focused sales and marketing services technology company focused on enabling SMEs, has entered into a conditional agreement to acquire 100 per cent of B2B Rocket Inc., a scale-up based in the United States focused on AI sales automation. Simultaneously, Black Pearl has gone ahead to affirm that it would also seek a dual quotation in the Australian Securities Exchange (ASX).
Overview of the Deal
1. Target Company: B2B Rocket, a new generation of outbound sales agents who acquire, qualify and engage leads on their own.
2. Financials: Over US 2.1 Mn a year repeatable annuity business (ARR).
3. Purchase Terms:
- Immediate Consideration: Approximately US $4 million in cash + 1.725 million BPG shares.
- Earn-out: Up to US $8 million (cash + shares) payables over five years, tied to revenue milestones and potentially unlocking up to US $13 million total value.
The sale of the purchase of the said acquisition is contingent upon normal conditions which include time being approved some equity conversions and preparing to be listed to the ASX.
Strategic Rationale
1. Complementary AI Capabilities
The current products of Black Pearl, Pearl Diver (meaning prospect identification) and Bebop (AI-enforced sales knowledge) have already demonstrated an explosive growth. Bebop was able to achieve US $1.2 million ARR within 45 days all on its own. Adding B2B Rocket offers complete outbound sales automation, email, LinkedIn, and voice making it a complete end-to-end AI-powered sales stack.
2. Category Leadership Strategy
“Bottom line is ruthless ambition. B2B Rockets made out of our cloth… The best complement” Nick Lissette, CEO, Black Pearl.
The purchase is not just a bolt-on offering, and it makes Black Pearl become a category leader in the field of AI-driven sales automation.
3. Growth Acceleration
In the agreement, B2B Rocket will be integrated into the Pearl Engine ecosystem of Black Pearl-offering synergy and scale of multi-products.
Impact on Market & Customers
- SMEs Benefit Most: SMEs are the most rewarded: Big outbound features can easily be obtained by small or medium businesses that were traditionally only available to them due to impractical costs as they can be delivered by AI agents (B2B Rocket).
- Cross-Sell Potential: Customers of Pearl Diver and Bebop have now had their acquaintance with the outbound platform and power of B2B and B2B Rocket and it will help in growing value in your lifetime and lead to more work through the platform.
- Accelerated Customer Acquisition: The combined solution will produce pipeline creation with little to no manual work and therefore assist sales teams to gain a competitive advantage.
ASX Dual-Listing Ambitions
1. Market Expansion: Black Pearl applied to the ASX to be listed as a foreign exempt listing but it still maintains its primary listing on the NZX.
2. Access to More Capital: Dual-listing will provide access to Australian investors and other sources of capital as financing the purchase and allowing future expansion would include possible cash, debt, and equity capital.
Financial & Operational Growth
1. Platform Performance: As at March 31, 2025, the total ARR of Black Pearl achieved was NZ 12.5 million a 70 percent growth when compared with the prior year; and subscription revenues were NZ 7.7 million a 91 percent increase year on year.
2. Product Traction:
- Pearl Diver: ~US $10 million ARR.
- Bebop: Achieved US $1.2 million ARR within 45 days.
3. Vision for Scale: Management is targeting US $20 million ARR—and beyond—with a broader pipeline of AI-powered products.
Leadership Commentary
“It is way beyond a bolt on and humans, together with AI, drive customer acquisition in scale. CEO of Deloitte is Nick Lissette. B2B Rocket agentic technology fits well together with both Pearl Diver and Bebop. So where next?
“Such messages constitute a planned approach in order to develop a single AI-based growth machine adapted to SME market.
These statements reflect a deliberate strategy to build a unified AI-driven growth engine tailored to the SME market.
What Lies Ahead
1. Acquisition Completion: Expected by August 2025, subject to completion Conditions.
2. ASX Listing Update: On progress and outcome of the foreign exempt listing application.
3. Integrated Product Launch: A full rollout of the combined AI platform, offering seamless outbound and inbound sales automation. 4. New Funding Initiatives: Possible raise combining cash, debt, and equity to support the integration, distribution, and marketing of B2B Rocket.