Looking back, moving forward: Mainframe Monkey joins dear digital

The deal is done. dear digital has acquired Mainframe Monkey. It's news we're proud of, news that merits further context. For our team, this comes as no surprise. At our quarterly ‘All hands’ meeting in January, the possibility of an acquisition was raised for the first time, potentially within the same year. Now, less than six months later, it’s a done deal. This is putting the money where your mouth is.

But what does this acquisition entail? What led to it? How did we come together? Why now? Why Mainframe Monkey? What’s next? All these questions are answered below.

The importance of technology

Let’s start at the beginning. It was 2015 when John and Sam launched Jaswig. They weren’t new to entrepreneurship, but Jaswig really struck a chord. Their ergonomic, adjustable desks found a strong product-market fit in 2017, selling like crazy both direct-to-consumer and business-to-business. This success didn’t go unnoticed by Fully, an American furniture giant, which acquired Jaswig in 2018. John and Sam then spearheaded the expansion of Fully within Europe, achieving an annual turnover of €25 million by 2020. The foundation of their success? Odoo as the operational engine and Shopify as the unstoppable e-commerce platform.

During this period, they got to experience the potential of both software platforms. When Fully was in its turn acquired, they seized the opportunity to base an agency around Shopify and Odoo. Bombay Studio was born. Operating out of the Watt Factory in Ghent, they helped ambitious e-commerce brands grow by making the right technological choices because ‘Technology enables business’.

The birth of dear digital

In the office next door, two other young entrepreneurs were doing something similar, albeit in a different field. Dimitri and Niels had established the digital marketing agency dear digital in 2020, specialising in paid advertising for e-commerce brands.

There was a personal click, and they shared the same clients. The increasingly successful collaboration spurred the quartet to consider: What if we brought everything under one roof? At the time, Niels and Dimitri were also crafting their own Shopify success story. With their venture, Puzzle in a Bag, they won the ‘Starter of the Year’ award in 2020. No shortage of common ground, right? In September 2021, Bombay Studio and dear digital merged under the name dear digital.

From 2021 to 2024, dear digital evolved into a full-service e-commerce agency for startups and scale-ups, growing the team to over 40 employees. It was a hell of a ride. However, the trajectories of Shopify and Odoo were so steep that a refinement of services was the right choice. In 2024, dear digital adjusted its sails slightly, going all-in on Shopify and Odoo, stepping away from digital marketing.

Growth and maturity

Both Shopify and Odoo have seen massive growth in recent years. Not just in numbers, but also in their positioning. Shopify has evolved beyond just a platform for webshops, it is now the undisputed market leader for retail businesses of every size. Odoo, in turn, is entering the waters of the SAPs of this world. The product is far advanced, and more and more companies are recognising its benefits. From June 2022 to early 2024, the number of users more than tripled. It’s the most dynamic ERP in the world, but Odoo offers more than a traditional ERP. Founder and CEO Fabien Pinckaers puts it this way: “A fully integrated suite of business applications.”

As the product and market matured, larger enterprises are looking to Odoo, and implementations are more complex. A testament to this is the significant investment by KPMG in Odoo. We too notice this shift: the Odoo train is at full speed, and that’s not likely to change. It is in this context that an acquisition fits into dear digital’s plans.

Currently, we are one of the largest Odoo implementation partners in the Benelux, but the market demands players with greater capacity, both in volume and expertise. It became clear that we needed to pivot to meet this demand. Through a buy-and-build strategy, we are rapidly focusing on increasing our volume and expertise.

In comes Mainframe Monkey

Speaking of Odoo expertise, in comes Mainframe Monkey. The company was founded by Yenthe van Ginneken in 2020. For those with some affinity with Odoo, this name will undoubtedly ring a bell. From the moment Odoo went open-source, Yenthe began developing the product. To this day, he remains one of the largest and most successful contributors in the Odoo ecosystem, earning multiple recognitions. We are convinced that globally, few entities have more Odoo experience than Mainframe Monkey. The team is comprised of top talent.

Mainframe Monkey x dear digital

So, how did we come together? Niels and Yenthe met in the fall of 2023, and there was an instant connection. Their shared vision for Odoo kept them in contact. Yenthe expressed his desire to take on more and larger projects, but the structure of Mainframe Monkey was holding him back. Niels shared this ambition, and as Yenthe expressed a desire to refocus more on technical matters and less on coordination and administration, the idea to merge emerged. The paths crossed at the perfect moment.

Besides the perfect timing, complementarity was also a decisive factor. Mainframe Monkey had hit a ceiling in recent months. They were looking for a better framework to continue growing. dear digital provides that framework.

What’s next?

In the next six months, the integration of both companies is our main task. Until the end of 2024, Mainframe Monkey and dear digital will continue to exist separately, but both teams are already collaborating on the same projects.

After this integration period, 2025 should be a year in which dear digital consolidates. With more talent, more expertise, and more experience, our goal is to complete large, complex Odoo projects, and become the best Odoo implementation partner in the Benelux. A position that can also be achieved by forging more partnerships like the one with Mainframe Monkey.

In essence

This acquisition illustrates the course dear digital is taking. We continue the rapid growth trajectory of recent years, together with our people, clients, and partners. We firmly believe in Odoo and Shopify, and are committed to doubling down to help businesses thrive on both ecosystems. And it is for this reason that we are so pleased with the influx of new talent joining us. Thanks to everyone who is part of this story, and here’s to the future!