Irish eCommerce business Clavis Insight has been bought by London Stock Exchange listed firm Ascential plc for more than $100m.
Initially business-to-business information company Ascential will pay $119 million in cash to the shareholders of Clavis.
But the final price could be higher depending on the performance of the company over the next three years, with up to $50m more in earn out payments possible.
Clavis Insight specialises in producing eCommerce analytics software that helps businesses selling consumer products to track and optimise the performance of their products.
They can do this across hundreds of websites and mobile platforms operated by retailers.
Clavis Insight has 170 employees, 100 of these are based in Dublin with other offices in the US, Britain, France and China.
Ascential said Clavis Insight fits well with its strategy and will strengthen its eCommerce analytics offerings to consumer product companies.
Among the customers Clavis Insight will bring to Ascential are P&G, Nestle, Unilever and L'Oreal.
Last year Clavis Insight had revenues of $13m, on which it recorded an EBITDA loss of $7m. It is expected to break even next year.
It was founded by Garry Moroney, a serial technology entrepreneur, around ten years ago.
"We look forward to joining Ascential and integrating with One Click Retail to deliver the gold standard in eCommerce action-ready insights and performance measurement for product manufacturers," he said.
"Working with tier one brands around the world, Clavis has grown into a global leader and I am confident that combining the expertise of One Click Retail, and Ascential’s other leading products, will further extend our comprehensive solutions and value proposition for this industry."
Clavis Insight backers include Draper Esprit, Accel-KKR, Enterprise Ireland and Delta Partners.
