Fredhopper to be acquired by ATTRAQT Group plc to create global 'go-to' e-commerce visual merchandising technology company
ATTRAQT Group plc has conditionally agreed to acquire Fredhopper, the European onsite search, navigation and merchandising software provider, for £25 million (subject to certain adjustments) in cash to create the global 'go-to' e-commerce visual merchandising company.
Fredhopper serves approximately 130 major international retail clients, while online visual merchandising company ATTRAQT's portfolio includes boohoo.com, Matches Fashion, Moss Bros, Russell and Bromley, Superdry, The North Face and Timberland. As a combined business the new company will have over 250 customers.
The deal, which is subject to shareholder approval, will see a significant expansion of client bases for Fredhopper and ATTRAQT, and will give the combined company a growing presence in the UK, US, continental Europe and Asia Pacific.
Headquartered in Amsterdam, Fredhopper has additional offices in the UK and Bulgaria, with customers in all key European e-commerce regions. ATTRAQT is headquartered in the UK and has a regional office in Chicago. The combined group will use its footprint in the US and Continental Europe to further expand global operations.
“I am delighted to be announcing this transformational deal for the company. The acquisition is a significant step and immediately establishes the new group as the clear global leader in online visual merchandising. As a combined business, we will bring together the very best solutions available in the market to become the go-to company for all visual merchandising needs," said Andre Brown, CEO and Founder of ATTRAQT Group plc. “This transaction has been driven by the growth potential available to the combined business and has been backed by a group of leading UK technology investors who share our vision and ambitious growth plans. In the short term the two businesses will continue to be run relatively independently, to ensure a considered and thoughtful integration."
ATTRAQT and Fredhopper, the directors believe, are currently the only two companies that provide site search, visual merchandising and personalisation in one integrated platform for the retail industry. Each has different strengths within its platform. Fredhopper has long-standing experience in site search, has developed advanced personalisation capabilities and built a cloud delivery platform for global implementations. ATTRAQT provides intuitive administration, AB testing and reporting.
Fredhopper's current owner is global content management and language solutions provider SDL.
“We are pleased that Fredhopper is to be acquired by ATTRAQT Group plc," said Adolfo Hernandez, CEO at SDL. “The combination of both businesses will provide customers with a powerful proposition to solve their complex visual merchandising challenges. We part on excellent terms and wish the team well for their future."
Following the announcement ATTRAQT shares are now suspended until re-admission on to the AIM market, which is expected to take place on 1 March 2017.
Corvil Record Year
36% Growth in Revenue
Corvil, the industry leader for deriving IT, Security, and Business intelligence from network data, recently announced that 2016 was another record performance year with continued profitable revenue growth, expansion of solutions for cybersecurity and regulatory compliance, and penetration of new verticals and markets.
Over the last twenty-four months, Corvil has nearly doubled its revenues as customers turn to its streaming analytics for insight into IT operations, cybersecurity, and business applications and transactions. 2016 saw not only growth of existing customers, but a 25% year-over-year increase in net new customers across new industries and in emerging markets such as Mexico, Brazil, and Indonesia.
"Our continued growth reflects both a market need for greater depth of insight from machine data sources to empower IT, network, operations, and security teams as well as strong execution of our strategic plan," said Donal Byrne, CEO. "We see business services continue to move from digital to algorithmic, requiring companies to have improved levels of precision, performance, and granularity. With our industry-leading approach to deriving intelligence from network data and with numerous product advances in machine learning, adaptive context enrichment, and machine-time analytics, Corvil is uniquely positioned to satisfy these needs in 2017 and beyond."
Trusted by the most demanding institutions around the world to safeguard critical business, Corvil is the streaming analytics platform for a machine world. In additions to growing its revenue, 2016 saw a substantial broadening of Corvil's product offerings including;
- the release of its Amazon Web Services (AWS) Connector, allowing customers to utilize the cloud for big data initiatives using Corvil data,
- the development unified communications and security apps for Splunk, and
- the introduction of solutions for precision time-stamped, clock synchronized transaction capture to support MiFID II and other regulatory compliance requirements.
As new regulations, security threats, and technical complexity are introduced to IT infrastructures, Corvil stands out as the only platform able to provide granular transparency across network and application data in real-time.
Corvil is the industry leader for deriving IT, Security, and Business intelligence from network data. The Corvil streaming analytics platform captures, decodes, and learns from network data on the fly, transforming it into machine-time intelligence for network, IT, security and business teams to operate efficiently and securely in this new machine world. The Corvil solution is trusted by leading financial institutions to safeguard their businesses across the globe involving 354 trillion messages with a daily transaction value in excess of $1 trillion.