Translation software business SDL has secured the acquisition of struggling market technology company Alterian in a deal worth £68.4 million.

Translation software business SDL has secured the acquisition of struggling market technology company Alterian in a deal worth £68.4 million.

Following an initial bid of £50 million made in October, SDL has offered a 73 per cent premium to the share price close the day before its first offer.

Alterian provides software for brand monitoring on social networks. The company issued a profit warning in April and implemented cost and workforce cuts in October.

For the year to date 30 September Alterian recorded a pre-tax loss of £18.6 million, compared to profits of £601,000 for the same period last year.

Mark Lancaster, executive chairman of SDL, comments: ‘The combination of Alterian’s marketing and analytics capabilities and SDL’s Global Content Management and eCommerce capabilities creates a compelling solution for companies to be successful in engaging with their customers.

‘This solution, coupled with SDL’s international capabilities, customer relationships and scale, further enhance SDL’s Global Information Management platform to help companies engage with their clients, build brand equity, accelerate speed to market and effectively manage their customers experience.’

Chairman of Alterian, Phil Cartmell, says that in light of the changes made to the business recently the acquisition has been ‘unanimously approved.’