Ebiquity encouraged by 'strongest ever' quarter for Stratigent

7th Apr 2014 13:36

Marketing and advertising data specialists Ebiquity has paid the maximum deferred consideration for its acquisition of Stratigent due to its strong performance.The AIM-listed company paid the performance-based cash payment of $3m to the founders of Stratigent, a US-based analytics firm, that was acquired in August with an initial payment at that time of $4m. Ebiquity said Stratigent's final quarter of 2013 was its strongest ever that was "testament to the relevance of its capabilities and the evolving needs of Ebiquity's clients". Chief Executive Michael Greenlees said he expected this growth to continue as the group further integrates its capabilities with other Ebiquity products and services and looks to expand its offering internationally. "Our clients are increasingly concerned with measuring and improving the impact of their marketing investments, making data management and performance optimization a key growth area for Ebiquity. Stratigent is an important keystone in this strategy, and we look forward to building on this success."Shares in Ebiquity, up 36% in the last 12 months, were unmoved on the news. NR