15th Apr 2021 08:36
(Alliance News) - Ascential PLC has acquired e-commerce advertising software firm Perpetua Labs Inc for a total of up to USD162 million, it said on Thursday.
Analytics and e-commerce optimisation firm Ascential said it had acquired San Francisco-based Perpetua for an initial USD52 million in cash. Under the deal's terms, there will be deferred consideration payable over four years resulting in a total price of between USD103 million and USD162 million, Ascential said.
Total consideration payable for Perpetua, in the event that "very stretching targets" are reached, is capped at USD250 million, the FTSE 250 company noted.
Perpetua will join Ascential's digital commerce segment, and the acquisition will bring this segment into a new business area. To date, Ascential has served only first-party vendors, while Perpetua targets third-party sellers.
Perpetua recorded revenue of USD3.8 million in 2020, tripling from the previous year. However, it made a loss before interest, tax, depreciation and amortisation of USD200,000. At December 2020, Perpetua had gross assets of USD10.9 million.
Ascential Chief Executive Duncan Painter commented: "Perpetua's expertise serving third-party vendors, through data-driven solutions, opens the door for Ascential to this large and fast-growing market segment.
"Combined with the global reach of our existing digital commerce businesses, that provide a full service offering to larger, first party brands, we have the exciting opportunity, with Perpetua, to expand our offerings across further platforms and geographies."
Shares in Ascential were up 1.6% in London on Thursday morning, at 360.80 pence each.
By Will Paige; [email protected]
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