Ascential expands in China, Brazil with acquisitions

Data and analytics company Ascential on Wednesday said it had made acquisitions in China and Brazil.

The firm bought Hangzhou Duozhun Data Technology (X Target) for an initial £11.9m, rising to £35m if targets are met over three years. X Target specialises in media trading execution.

Ascential also agreed to acquire Intellibrand, based in Brazil, which provides eCommerce analytics solutions for brands across Latin America, for an undisclosed sum.

Both acquisitions are expected to complete in the first quarter of 2021, it added.

In the year ended December 2019, X Target delivered revenue of £4.6m (growth of over 90% vs 2018) and unaudited adjusted core earnings of £0.9m. It had gross assets of £3m at December 2019.