UK-based data and analytics company Ascential has purchased Singapore-based e-commerce omnichannel solutions supplier Intrepid in a deal that could value the company at $250 million.
Intrepid received an immediate cash payment of $57 million as part of the acquisition, and deferred considerations will be paid over the next four years, according to the announcement.
The deferred payments, which may total an additional $43 million to $140 million, are contingent upon the company reaching “specified financial benchmarks.”
According to a release, the overall consideration will be limited to $250 million, which would require Intrepid to meet “extremely stretched targets.”
The e-commerce facilitator is “unable to share further” at this time on its financial goals, a spokesperson revealed.
Intrepid will now be a part of Ascential’s digital commerce division, enhancing the latter’s footprint in Southeast Asia and providing clients of the UK-based company with a point of entry.
The division allows manufacturers of consumer goods to increase their sales, market share, and profitability across all major consumer markets. In addition to Edge by Ascential, Flywheel, Yimian, Duo Zhun, Intellibrand, OneSpace, Perpetua, Sellics, WhyteSpyder, and 4KMiles, Ascential’s digital commerce brands will now include Intrepid.
Intrepid claims that more than half of the top 100 eCommerce businesses in Southeast Asia have experienced successful online growth under the guidance of the team’s past marketplace, brand, and agency leaders. Over 480 eCommerce, digital marketing, and IT talents from Southeast Asia make up Intrepid’s staff.
The vision, objectives, and cultures of the two companies are compatible, according to Jasper Knoben, CEO of Intrepid.
Additionally, Intrepid’s robust presence in Southeast Asia and demonstrated proficiency in operating across the major marketplaces in this crucial area significantly increase the capabilities and global reach of our digital commerce business, according to Duncan Painter, CEO of Ascential.
Ex-Lazada executives established Intrepid in Vietnam in 2017 under the direction of Christopher Beselin.
In a series B fundraising round sponsored by Mirabaud Asset Management in June 2021, it raised $11 million. The company also has operations in Thailand, Indonesia, Malaysia, the Philippines, and Singapore.