Dublin-based web auditor Clavis Insight has been acquired by London-based firm Ascential in a £219 million deal.
The firm, which enables companies such as L’Oréal, Nestle and Unilever to track stocks and sales on other websites, was purchased for $219 million, with Ascential paying $119 million cash upfront for the company.
As part of the deal Ascential will pay further earn-out payments over the next three years, subject to Clavis founders staying with the company – with the payments based on the company earnings.
The total payment will only reach the $219 million figure, “in the event that extremely stretching annualised recurring revenue levels are reached,” said Ascential.
Founded in 2008, Clavis has since raised more than $30 million from Investment Group Accel-KKR and Draper Espirit.