Ascential Acquires South East Asian E-Commerce Execution Services Provider Intrepid.
MANews-(C)2009-2022
UK-based information, analytics and e-commerce optimisation company Ascential plc (LSE: ASCL.L) has acquired South East Asian e-commerce execution services provider Intrepid E-Commerce Services Pte. Ltd, the company said.
Intrepid provides, primarily, e-commerce execution, backed by proprietary software solutions, to enterprise brands that trade on major South East Asia platforms such as Shopee and Lazada.
Headquartered in Singapore, Intrepid employs over 400 staff, and is led by its co-founders: Jasper Knoben and Christopher Beselin (CEO and chairman respectively).
The acquisition is for an initial cash consideration of USD 57m, plus deferred consideration payable over four years, contingent on meeting certain financial targets, resulting in an estimated total consideration (including the initial consideration) of between USD 100m and USD 197m.
The maximum total consideration...
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