NowVertical Group Inc. (NOW), the VI software and solutions company, announced that it has entered into a definitive agreement to acquire 100% of the issued and outstanding securities of two U.K. based data analytics solution providers, Acrotrend Solutions (Acrotrend) and Smartlytics Consultancy (Smartlytics) for total gross consideration of US$6.45 million, subject to customary post-closing adjustments.
The Acquisitions are expected to increase NOW’s Revenues by approximately US$6.1 million and Adjusted EBITDA by approximately US$1.9 million for the trailing 12-month period (unaudited), pre-synergies, a statement said.
“The acquisitions announced today represent NOW’s 10th and 11th made to date,” said Daren Trousdell, Chairman & CEO of NOW. “Our vision since the beginning has been to create an efficient capital allocator that combines solid organic and inorganic growth for the long term. These companies are excellent examples of how we are creating value for investors. The addition of the Acrotrend and Smartlytics teams will help accelerate and grow our expected positive Adjusted EBITDA and add additional opportunities for further organic growth in the UK, a key market for NOW. They also set the stage for our next round of acquisitions that, under the NOW banner, will help customers realize the potential of Vertical Intelligence.”
Founded in 2007 by Sandeep Mendiratta and Shailesh Mallya, Acrotrend is a UK-based customer data & analytics consultancy that will complement NOW’s established UK technology presence with practical data science and sophisticated AI to enhance customer lifetime value (“CLV”) for clients. With a focus on medium to large enterprises, Acrotrend accelerates cloud data modernization journey and delivers solutions on leading technologies primarily within the sales, marketing, customer services and digital functions through a scalable and efficient operating model, the statement said.
With operations in the UK and India, Acrotrend has been working with globally renowned brands across multiple verticals, including Reed Exhibitions (RX), The Economist Group, The Walt Disney Company, Sky Group, Informa, Nuffield Health, GSK and Cancer Research UK.
“At Acrotrend, we’ve spent the last 15 years delivering value within data and analytics that results in long-term positive impact on our clients. By joining forces with NOW, we’ll be able to deliver that same experience on a massively increased scale,” said Sandeep Mendiratta, Co-Founder and Chief Executive Officer of Acrotrend. “The combined commercial delivery potential and high value solutions will be a game changer for so many of our current and future clients.”
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