Ebquity plc, a Veronis Suhler Stevenson Portfolio Company, acquires Stratigent and Increases its Debt Facility
(“Ebiquity” or the “Company”)
Acquisition of Stratigent and increased debt facility
Ebiquity plc is pleased to announce the acquisition (the “Acquisition”) of all of the membership interests in Stratigent LLC (“Stratigent”). 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 he 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.
Increased debt facilities
The Company 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:
“The acquisition of Stratigent represents a significant step into marketing performance optimization in the US market. We are delighted to welcome Bill Bruno and his team to Ebiquity and look forward to their growing contributions to our business.”
Ebiquity Plc Tel. Tel. +44 (0)20 7650 9600
Michael Greenlees, Chief Executive Officer
Andrew Beach, Chief Financial Officer
Numis Securities Limited Tel. +44 (0)20 7260 1000
Lorna Tilbian/Nick Westlake (Financial Adviser and
David Poutney (Corporate Broking)
College Hill Tel. +44 (0)20 7457 2020