First Derivatives acquires Prelytix for £13m

26th Feb 2015 16:48

Software group First Derivatives has completed the acquisition of US-based data analysts Prelytix for £13m.First Derivatives, whose customers include investment banks, brokers and hedge funds, said the deal was part of the strategy to expand its business by combining marketing technology with software, adding that the acquisition offered potential to generate revenues."We continue to target additional vertical markets in which we have the capability to disrupt," said group Brian Conlon.The group, which completed a £15.3m share placing earlier this month, said the initial payment of £4.9m will consist of £3.9m in cash.Based in Massachusetts, Prelytix delivers predictive analytics by utilising real-time advertising data, website traffic and social media and last year reported revenues of £1.28m.On Thursday, First Derivatives shares closed up 0.19% to 1,290.00p.