Cork-based digital agency Granite has agreed a deal to buy Coalface, a Limerick-headquartered data science and digital marketing company, for a seven figure sum.
Granite said that after today's acquisition, its workforce will grow to more than 145 digital specialists, and its revenues are expected to exceed €18m next year.
Coalface manages over €220m in annual online revenues across 68 countries. With today's deal, Granite's customer base expands by over 20 blue-chip clients, including Aer Lingus, An Post, Allianz Care, Laya Healthcare and Continental.
Granite said today's "strategic move" amplifies its market presence and digital capabilities, enabling an enhanced suite of services for customers seeking data-driven solutions.
Adrian Feane, CEO of Coalface, joins the Granite team as part of the acquisition.
Conor Buckley, CEO of Granite, said today's acquisition aligns with the company's vision of cementing Granite as a leader in the digital transformation space.
"Coalface's advanced AI capabilities and innovative approach to data science boosts our service offerings, allowing us to deliver increased value to our clients. This partnership provides marketers with enhanced visibility into their marketing performance and a broader suite of tools to meet their business goals," Mr Buckley said.
Adrian Feane, CEO of Coalface, said that joining Granite is a very exciting step for the team and clients at Coalface.
"Having already worked closely together with Granite on multiple projects, we could clearly see the benefits of a full integration of our operations to deliver more complete solutions for our highly valued clients," he said.
"This new venture creates further opportunities for us to shape a more data led approach to how marketers define their digital strategies," he added.
