Clavis provides eCommerce analytics, with proprietary technology enabling consumer product companies to track and optimise the performance of their products across hundreds of retailer websites and mobile commerce sites globally. Clavis customers include some of the world’s largest consumer product companies, such as P&G, Nestle, Unilever and L’Oreal.
Clavis will join Ascential’s Information Services division and is complementary to One Click Retail. Clavis employs 170 people, including 100 in Dublin, with hub locations in the US, UK, France and China serving a global customer base.
In the year to 31 December 2016 Clavis generated unaudited revenue of $13 million and an EBITDA loss of $7 million. Gross assets at 31 December 2016 were $19 million. Revenue is expected to grow to $17 million in the current financial year ended 2017 and Clavis is expected to break even in 2018. Clavis has a high level of recurring revenue with 95% of total revenue being subscription-based.
The initial cash consideration is $119 million. The earn out is payable in cash based on the annualised recurring revenue of the business at the end of each of the next three years to 2020 and is expected to total between approximately $25 million and $50 million. A portion of the earn out is subject to founders remaining in employment with the company.
Duncan Painter, CEO, Ascential, commented: “Ascential enables its customers to improve their business performance. As a high growth business that offers synergies with our existing brands, Clavis fits well with our strategy, strengthening our eCommerce analytics offering for consumer product companies. Through combination with OCR’s offering, we will provide ever more comprehensive, accurate and actionable analytics and insight.”
UK, London & Dublin, Ireland
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