Alterian has acquired social media specialist Intrepid for up to £7.5 million.
Marketing analytics company Alterian has acquired social media specialist Intrepid for up to $11.5 million (£7.5 million).
The deal builds on Alterian’s existing social media analytics business, as well as giving the company a foothold in Vietnam, where Intrepid has an office.
An initial sum of $3.5 million will be paid to Intrepid’s shareholders, consisting of $2.5 million in cash from Alterian’s existing resources, and the issue of shares in the company. Additional consideration of up to $7.35 million is payable up until March 2013 depending on sales targets being met.
Alterian’s CEO David Eldridge comments, ‘Many brands are well aware of the need to harness [social media] as a key and integral part of their marketing mix. However, a large proportion do not yet have the necessary in-house skills to use social media analytics to best effect.’
Intrepid has 40 staff based in Seattle, London and Ho Chi Minh City, Vietnam. The company has gross assets of £500,000 and last year declared unaudited pre-tax profits of £300,000.
LSE-listed Alterian has been identified as one of the UK’s top 50 fastest-growing companies by Business XL magazine in its annual Rising Stars research, with pre-tax profits up 84 per cent last year to £6.7 million on sales of £38 million.
