Intrepid Group, a Singapore-headquartered omnichannel e-commerce options firm, has been acquired by Ascential plc (Ascential), a worldwide supplier of data, analytics and e-commerce optimisation.
The deal is for an preliminary money consideration of US$57 million, plus deferred consideration payable over 4 years. That is contingent on assembly sure monetary targets, leading to an estimated whole consideration of between US$100 million and US$197 million.
The utmost whole consideration payable for Intrepid Group is capped at US$250 million, Intrepid stated in a press launch.
The acquisition will present a strategic entry level for Ascential into the high-growth Southeast Asian market. On the identical time, it’s going to present Intrepid entry to a broader community of assets and information.
As per the settlement, Intrepid will change into a part of Ascential’s Digital Commerce division. The Singaporean firm joins Edge by Ascential, Flywheel, Yimian, Duo Zhun, Intellibrand, OneSpace, Perpetua, Sellics, WhyteSpyder and 4KMiles to strengthen Ascential Digital Commerce’s presence within the area.
Additionally Learn: Intrepid attracts US$11M Collection B, claims profitability in 2 markets
“Intrepid’s sturdy presence in Southeast Asia and confirmed experience working throughout the foremost marketplaces on this necessary area additional enhances the capabilities and international attain of our Digital Commerce enterprise,” stated Duncan Painter, CEO of Ascential.
Based by Co-Founders of Lazada, Intrepid Group provides each enterprise-grade SaaS and end-to-end e-commerce administration to manufacturers and SMEs to speed up their progress on platforms akin to Lazada and Shopee. The B2B firm has places of work in six markets: Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. It has over 480 staffers throughout e-commerce, digital advertising and marketing and tech specialists.
A yr in the past, Intrepid Group secured US$11 million in an oversubscribed Collection B funding, led by Mirabaud Asset Administration via its Mirabaud Way of life Impression & Innovation fund.
In August 2020, Intrepid raised an undisclosed sum in pre-Collection B financing, co-led by Thakral Solar SEA Capital (a VC agency backed by Sunway Group). Ten months earlier, it had acquired Collection A funding led by Kairous Capital.
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