LONDON (Alliance News) - Ascential PLC said Monday it acquired price & promotion analytics provider Brand View Ltd for initial GBP29.8 million in cash.
The FTSE 250-listed business-to-business media company said the first tranche of the acquisition was funded by its cash reserves. Additional cash of up to GBP8.2 million is payable subject to the achievement of targets for subscription billings through the rest of 2018 and the first half of 2019.
Ascential said that Brand View's acquisition adds "a highly complementary service" to its existing specialisms of Sales & Share and Digital Shelf. Furthermore it adds retailers to the company's customer's segments.
Brand View's revenue for the year to June was GBP13.0 million and Ascential said it expects the transaction to be "earnings accretive" from its current financial year.
Ascential (ASCL)