In a deal worth up to £13M Newry company First Derivatives has added data analysis company Prelytix to their portfolio with the aim of boosting their presence in the marketing technology sector.

First Derivatives announced today they have acquired the entire issued share capital of Prelytix Inc. ("Prelytix") for an initial consideration of US$7.5m (£4.9m) and a maximum total consideration of US$20m (£13.0m). The acquisition, which will be earnings enhancing in the Company’s financial year to 29 February 2016, expands the Newry company's presence in the fast-growing marketing technology sector.

Newry's First Derivatives has added Prelytix Inc to it's portfolio. Photograph: Columba O'Hare
Newry company First Derivatives have added Prelytix Inc to it's portfolio. Photograph: Columba O'Hare

Commenting on the acquisition Brian Conlon, Chief Executive Officer of First Derivatives said "Digital marketing is one of a number of vertical markets challenged by rapid growth in data volumes. This acquisition creates a unique end to end technology marketing firm with industry leaders at the helm backed by a software platform and a team of data scientists. This offers the potential to generate significant revenues for the Company. The acquisition of Prelytix follows our £15.3m share placing earlier this month to accelerate opportunities in Fast Data and we continue to target additional vertical markets in which we have the capability to disrupt. We look forward to updating the market in due course."

The acquisition of Prelytix forms part of First Derivatives strategy to penetrate additional vertical sectors, beyond its core in capital markets, using the capabilities of the Delta platform and kdb+. The combination of an established innovative business in the marketing technology sector, along with the capabilities of FD’s software will accelerate the route to market for both companies.

Mike Kelly and Marc Laplante, co-Founders of Prelytix, commented: “The data we provide results in better intelligence about prospects and higher revenue opportunities for our clients. While Prelytix has achieved rapid growth to date, the size of the data sets we analyse and the complexity of the analytics that has to be performed against it to unlock the full value of the data, has been a limiting factor in our ability to scale our business. With First Derivatives and the Delta platform, we look forward to being able to focus on increasing our customer base and providing even more sophisticated analytics to help clients maximise their revenue opportunities.”

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