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(Alliance News) - FTSE 250 information, data and analytics group Ascential PLC on Wednesday announced the acquisition of two companies, one in China and the other in Brazil.
The first deal is for the acquisition of Hangzhou Duozhun Data Technology Co Ltd, also known as X-Target, for up to GBP55 million.
X-Target provides e-commerce marketing services, including helping companies with consumer targeting, media executions and content marketing strategies.
Ascential will acquire X-Target for an initial cash payment of GBP11.9 million, with earn out payments over three years totalling between GBP29 million and GBP35 million.
The deal will allow Ascential to expand its offering of e-commerce analytics to consumer product firms in China.
The second agreement is for the acquisition of Sao Paulo, Brazil-based Intellibrand, which also provides e-commerce analytic services across Latin America. However, Ascential did not disclose the acquisition price.
"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," said Chief Executive Officer Duncan Painter.
"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," Painter added.
Shares in Ascential were up 2.9% at 379.00 pence on Wednesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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