Ascential Share News (ASCL)

(Sharecast News) - Ascential has bought WhyteSpyder, an e-commerce software and digital merchandising business which helps brands succeed on Walmart's digital marketplace, for an undisclosed sum.
WhyteSpyder provides retail managed services to more than 80 enterprise brands that trade on Walmart.com, using a mix of technology-driven search engine optimisation, retail insights, content management and rich media hosting.

Based in Rogers, Arkansas, the business employs around 40 staff, led by chief executive JS Bull and founder Eric Howerton.

WhyteSpyder will join Ascential's Digital Commerce business unit.

The company also said on Monday that following the conclusion of a "very successful" Money20/20 USA in October, the 2021 edition of the event achieved more than 95% of the revenue of the last 2019 edition. Together with Money20/20 Europe in September, the group expects to report combined revenues for the two events of around £37m, which represents a combined 85% of the like-for-like 2019 revenue.

Chief executive officer Duncan Painter said: "WhyteSpyder's specialism serving brands on Walmart's rapidly scaling marketplace will accelerate our goal to build out deep cross-platform capabilities within our Digital Commerce business.

"Walmart represents one of the most significant marketplaces in North America and WhyteSpyder's expertise here, while complementary to our existing Amazon focussed capabilities, will provide further growth opportunities for our existing measurement and execution offerings in this region.

"Meanwhile, we are very pleased to see both editions of Money20/20 rebound strongly this year."