Media and events business Ascential plc has acquired WARC Limited for an initial cash consideration of £19.5m, plus deferred consideration of £4.5m payable in 2019. The acquisition is expected to complete on 2 July 2018.
WARC is a digital subscription business that helps brands, agencies and media platforms assess marketing effectiveness across all channels. It provides information and insight to understand and measure multi-channel advertising effectiveness. Founded in 1985, the business offers advertising best practice, evidence and insights from the world’s leading brands. The business employs approximately 90 people with offices in London, Washington DC and Singapore and serves approximately 1,200 customers globally.
In the year to 31 March 2018 WARC generated unaudited revenue of £10.8m (a growth of 10%) and EBITDA of £2.2m. Gross assets at 31 March 2018 were £9.6m.
Duncan Painter, CEO of Ascential, commented: “Ascential enables its customers to win in the digital economy. WARC is an important step forward as we continue to grow our digital offering, adding breadth and depth to our marketing proposition. Alongside Cannes Lions’ The Work, our recent digital product launch, we will now have a digital subscription product of scale encompassing both creative excellence and marketing effectiveness.”
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