Ascential Share News (ASCL)

(Alliance News) - Ascential PLC on Monday said revenue from its key Money20/20 USA conference in 2021 was almost back to the 2019 level.

The London-based business-to-business media and events firm also announced its acquisition of US e-commerce software firm WhyteSpyder LLC.

Ascential said the Money20/20 USA conference in 2021 generated over 95% of the revenue the event made in 2019. With the same event in Europe, the company expects a combined revenue of GBP37 million. Together this would represent 85% of the revenue made in 2019.

Ascential also stated that it acquired Rogers, Arkansas-based WhyteSpyder, an e-commerce software and digital merchandising business that provides retail management services to brands that trade on Walmart.com, the online market place of retailer Walmart Inc, also based in Arkansas.

WhyteSpyder will join Ascential's Digital Commerce business.

"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," Duncan Painter, chief executive of Ascential, commented.

Ascential did not disclose the purchase price of WhyteSpyder.

By Abby Amoakuh; abbyamoakuh@alliancenews.com

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