Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Shares of information, analytics and eCommerce optimisation company Ascential plc (LON: ASCL) are edging higher on Thursday, currently up 1.52% at 360.6p.
The rise has followed the company’s announcement that it has acquired Perpetua Labs Inc, an eCommerce media optimisation business that primarily targets third-party sellers.
Ascential will pay an initial cash consideration of $52 million, plus deferred consideration payable over four years, resulting in an estimated total consideration of between $103 million and $162 million.
The total price payable for Perpetua, if all targets are met, is capped at US$250 million.
“This marks new territory for Ascential's Digital Commerce segment, which the business will join, and which to date has exclusively served first-party vendors,” stated Ascential.
Perpetua is based in Toronto, Canada and provides a self-service SaaS platform that helps independent sellers, agencies and some larger brands, optimise the purchase of search and display advertising on Amazon and other major marketplaces.
In 2020, Perpetua recorded revenue of $3.8 million and an EBITDA loss of $0.2 million.
Duncan Painter, CEO of Ascential, commented: “Perpetua's expertise serving third party vendors, through data-driven solutions, opens the door for Ascential to this large and fast-growing market segment.
“Combined with the global reach of our existing Digital Commerce businesses, that provide a full service offering to larger, First party, brands, we have the exciting opportunity, with Perpetua, to expand our offerings across further platforms and geographies.”
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