Ascential plc, a specialist information, analytics and e-commerce optimisation company, has acquired Singapore-headquartered Intrepid Group Asia (Intrepid), which helps brands accelerate their omni-channel e-commerce presence, per an announcement.
The total deal size is $250 million. However, the acquisition is for an initial cash consideration of $57 million, plus deferred consideration payable over four years, contingent on meeting certain financial targets, resulting in an estimated total consideration (including the initial consideration) of $100-197 million.
The acquisition will help Ascential expand its operations in Southeast Asia.
Intrepid will become a part of Ascential’s Digital Commerce division, which enables consumer product companies to maximize their sales, among others, across the world’s leading consumer marketplaces.
“Intrepid’s strong presence in Southeast Asia and proven expertise operating across the major marketplaces in this important region further enhances the capabilities and global reach of our Digital Commerce business,” said Duncan Painter, CEO at Ascential.
Jasper Knoben, CEO of Intrepid, said that the acquisition is a natural strategic fit for both Intrepid and Ascential.
Listed on the London Stock Exchange, Ascential delivers specialist information, analytics and e-commerce optimisation platforms to the world’s leading consumer brands and their ecosystems.
In the year ended December 2021, Intrepid recorded unaudited revenue of $17.8 million, with an unaudited EBITDA loss of $4.5 million. For the year ended May 31 2022, unaudited revenue had grown to $23.1 million. As of December 2021, Intrepid had unaudited gross assets of $14.6 million.