TIDMASCL
RNS Number : 8320I
Ascential PLC
16 December 2020
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16 December 2020
Ascential plc
Acquisition of Digital Commerce businesses
Ascential plc (LSE: ASCL.L), the specialist information, data
and analytics company, announces the agreement of an important
acquisition for our Digital Commerce business in China. Hangzhou
Duozhun Data Technology Co. Ltd. ("X Target"), combined with our
existing high growth Yimian business, will provide a full set of
measurement and trading execution capabilities in the world's
fastest-growing Digital Commerce marketplace. X Target specializes
in media trading execution and provides similar capabilities for
China as our Flywheel brand does for Western eCommerce
platforms.
In parallel Ascential has also agreed to acquire Intellibrand,
based in Brazil, which provides eCommerce analytics solutions for
brands across Latin America. Intellibrand also enables Ascential's
Digital Commerce business to enter the fast growing food
aggregation delivery measurement market globally. Both acquisitions
are expected to complete in Q1 2021.
X Target
With approximately 100 staff based in Hangzhou and Shanghai, X
Target helps multi-national and premium Chinese brands optimise
their consumer targeting, media execution and content marketing
strategy across the leading eCommerce platforms in China, including
Alibaba and JD. X Target won the prestigious Alibaba Premium ISV of
the year award in 2020.
The acquisition will allow Ascential to extend its offering in
China, with the broadest available eCommerce analytics proposition
for consumer product companies, while also providing the
opportunity to cross-sell and enhance customer relationships with
Ascential's Yimian business.
Ascential will acquire X Target, for an initial cash
consideration of GBP11.9m, plus earn out payments payable over
three years resulting in an estimated total consideration
(including the initial consideration) of between GBP29m and GBP35m.
The total consideration payable for the company, in the event that
very stretching targets are reached, is capped at GBP55m.
In the year ended December 2019, X Target delivered revenue of
GBP4.6m (growth of over 90% vs 2018) and unaudited adjusted EBITDA
of GBP0.9m. It had gross assets of GBP3.0m at December 2019.
Intellibrand
Based in São Paulo with approximately 40 staff, Intellibrand
provides global brands operating in Latin America with expert local
market digital shelf analytic capabilities. These services cover
the major Latin America eCommerce platforms, notably MercadoLibre,
as well as Food Service Aggregators ("FSAs"), such as Just Eat and
Uber Eats.
The acquisition provides Ascential with an opportunity to scale
its Digital Commerce operations in the fast-growing Latin America
eCommerce market. It also offers proven capability in Food Service
Aggregator analytics: a product that is growing in demand among
Ascential's global digital shelf customers.
Duncan Painter, CEO of Ascential, commented:
"X Target's expertise in consumer analytics and media
optimisation on Chinese platforms provides a clear complement to
Yimian and Edge's suite of services, broadening the range of our
Digital Commerce offering in the world's fastest growing eCommerce
marketplace.
Meanwhile, Intellibrand extends our digital shelf capabilities
across the fast growing Latin American platforms, as well as
allowing us to address the exciting FSA performance measurement
business. These deals together expand and deepen our Digital
Commerce capabilities and further extend our global reach,
strengthening our competitive offering in this key space."
Contacts
Ascential plc
+44 (0)20 7516
Duncan Painter Chief Executive Officer 5000
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Mandy Gradden Chief Financial Officer
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Rory Elliott Investor Relations
Director
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Media enquiries
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Edward Bridges, Matt Dixon, +44 (0)20 3727
Jamie Ricketts FTI Consulting LLP 1017
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About Ascential
Ascential is a specialist information, data and analytics
company that helps the world's most ambitious businesses win in the
digital economy. Our information, insights, connections, data and
digital tools solve customer problems in four principal
disciplines:
-- Digital Commerce via data, analytics and managed services
brands Flywheel Digital, Yimian and Edge;
-- Product Design via global trend forecasting service WGSN;
-- Marketing via global benchmarks for creative excellence and
effectiveness, Lions and WARC, and MediaLink; and
-- Retail & Financial Services, including the world's
premier payments and FinTech congress Money20/20 and events, data
and tools for retailers.
Ascential also owns three digital information products in the
Built Environment and Policy sector.
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