Ebiquity has acquired Stratigent LLC. Stratigent is a US-based multi-channel analytics provider that helps its clients to measure and optimise their consumer communications and engagement, predominantly focused on ‘owned’ channels.
The majority of these interests are being acquired from Stratigent’s founders, Julie Oberweis and Josh Manion, for an initial consideration of approximately US$4m. The maximum total consideration for these interests is up to US$7m, payable in cash, depending on the performance of the Stratigent business in the full financial year ending 31 December 2013.
Members of Stratigent’s management team hold a minority of interests in Stratigent. These interests are being acquired for an aggregate consideration of up to US$1.5m, depending on the performance of the Stratigent business in the three financial years ending 30 April 2016.
Stratigent’s unaudited revenue for the year ended 31 December 2012 was approximately US$3.5m and it generated an unaudited operating profit of approximately US$0.9m. Stratigent employs approximately 20 people. The Acquisition is expected to be earnings enhancing in the first full financial year.
Stratigent’s CEO, Bill Bruno, will remain as Chief Executive of the Stratigent business.
At the same time, Ebiquity has increased its debt facility with Bank of Ireland and Barclays to provide an additional £6m of available funds. The increased facility will be used to fund the acquisition and to make funds available for other potential future acquisitions.
Michael Greenlees, Chief Executive Officer of Ebiquity, said, “The acquisition of Stratigent represents a significant step into marketing performance optimisation in the US market. We are delighted to welcome Bill Bruno and his team to Ebiquity and look forward to their growing contribution to our business.”
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