Source: NowVertical Group Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • NowVertical Group (NOW) signs a definitive agreements to acquire UK-Based Acrotrend and Smartlytics
  • Acotrend has operations in the UK and India; Acrotrend has been working with globally renowned brands across multiple verticals
  • Smartlytics develops end-to-end data solutions to eliminate data silos and create a single source of truth
  • The acquisitions are expected to increase NOW’s Revenues by around US$6.1 million and Adjusted EBITDA by approximately US$1.9 million
  • The company has agreed to complete the transactions in aggregate for a closing cash payment of US$5.1 million
  • NowVertical Group (NOW)  is trading at C$0.53 at 11:51 am EST

NowVertical Group has signed a definitive agreement to acquire the issued and outstanding securities of two U.K.-based data analytics solution providers.

The first company was founded in 2007. With operations in the UK and India, Acrotrend has been working with globally renowned brands across multiple verticals, including Reed Exhibitions (RX), The Economist Group, and The Walt Disney Company, to name a few.

While Smartlytics develops end-to-end data solutions to eliminate data silos and create a single source of truth. 

It also provides more extensive service engagements to larger organizations on a customized basis through its head office in the UK and operations in Dubai, UAE and Cairo, Egypt.

The acquisitions are expected to increase NOW’s Revenues by around US$6.1 million and Adjusted EBITDA by approximately US$1.9 million for the trailing 12-month period, pre-synergies.

“The acquisitions announced today represent NOW’s tenth and eleventh made to date,” said Daren Trousdell, Chairman & CEO of NOW.

“These companies are excellent examples of how we are creating value for investors. The addition of the Acrotrend and Smartlytics teams will help accelerate and grow our expected positive Adjusted EBITDA and add additional opportunities for further organic growth in the UK, a key market for NOW,” continued Trousdell.

“By joining forces with NOW, we’ll be able to deliver that same experience on a massively increased scale,” said Sandeep Mendiratta, Co-Founder and Chief Executive Officer of Acrotrend.

The company has agreed to complete the transactions in aggregate for a closing cash payment of US$5.1 million.

NOW is the VI software and solutions company growing organically and through acquisition.

NowVertical Group (NOW)  is trading at C$0.53 at 11:51 am EST.


More From The Market Herald

" @ the Bell: Tech leads TSX comeback

It was another rocky day for Canada’s main stock index that ultimately ended up in the green thanks to a lead powered by
Geomega Resources - President & CEO, Kiril Mugerman

" Geomega Resources (TSXV:GMA) granted $3M for recycling demo plant

Geomega Resources (GMA) has been awarded a $3 million grant from the government of Quebec’s Technoclimat Program.
First Hydrogen Corp. - CEO of Automotive, Steve Gill.

" First Hydrogen (TSXV:FHYD) unveils next gen FCEV images

First Hydrogen (FHYD) has received the initial Generation II images for its hydrogen fuel cell vehicle (FCEV), designed in collaboration with EDAG Group.
The Tugaske Project.

" Gensource Potash (TSXV:GSP) closes non-brokered private placement

Gensource Potash Corporation (GSP) has closed its previously announced non-brokered private placement of units and flow-through common shares.