LONDON, UK: D4t4 Solutions Plc has acquired Prickly Cactus Limited, a UK data analytics firm, for up to £0.75 million.
Prickly Cactus, based in Bristol, UK, provides digital transformation consulting to companies across the globe and has had a strategic relationship with D4t4 and the Celebrus family of products for the past year. With their many years of experience in key industry verticals, such as Financial Services and Insurance, the addition of the Prickly Cactus team is expected to have a positive impact on the Group’s performance.
The acquisition is part of D4t4’s investment in specialist resources to capitalise on the market opportunity for both its Celebrus Customer Data Platform (CDP) and Fraud Data Platform (FDP).
The Prickly Cactus team are experienced in product management and having previously worked with several of D4t4’s partners and customers, will be operational immediately. Prickly Cactus will be focused on driving customer success in the key markets of Financial Services, Telecoms and Insurance and building a stable of new Celebrus customers via partners and direct relationships.
The total consideration will comprise an initial consideration of £0.25 million satisfied by £0.2 million in cash (funded from current cash reserves) and by the allotment of 13,897 new ordinary shares of 2p each in D4t4 and an earn-out of up to approximately £0.5 million over the next two and half years tied to both existing customer growth and the acquisition of new customers for the CDP and FDP.
The earn-out will also be satisfied by a mixture of cash and shares. Application has been made for the Consideration Shares to be admitted to AIM. Admission is expected to become effective on 5th August 2021.
Pete Kear, CEO of D4t4 Solutions commented: “As mentioned at the time of the FDP launch, we’re investing in the resources to help grow our industry leading Celebrus customer data and fraud data products. Combining fantastic technology with even better talent will drive our efforts to establish Celebrus as the enterprise leader in both the CDP and FDP space.
“We’ve worked with Prickly Cactus for some time and are excited to be welcoming a highly experienced team who have worked with our partners and customers before and can hit the ground running.”
Tony Brown, Managing Director of Prickly Cactus, a UK data analytics firm, said: “Joining D4t4 gives us the opportunity to work directly with some great partners and customers as well as bringing the Group’s innovative and unique technology solutions to a host of new ones. We’re looking forward to adding real value to the existing D4t4 team and to helping more enterprises solve their digital transformation challenges.”
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30 Jul, 3:33 pm GMT+1 ·Disclaimer
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