Ascential plc (LSE:ASCL) acquired Intrepid Digital Commerce PTE. Ltd. for $250 million on June 30, 2022. The acquisition is for an initial cash consideration of $57 million, plus deferred consideration payable over four years, contingent on meeting certain financial targets, resulting in an estimated total consideration (including the initial consideration) of between $100 million and $197 million. The maximum total consideration payable for Intrepid, in the event that very stretching targets are reached, is capped at $250 million. In the year ended December 2021 Intrepid recorded unaudited revenue of $17.8 million, with an unaudited EBITDA loss of $4.5 million. As of December 2021 Intrepid had unaudited gross assets of US$14.6 million. David Kuo of DLA Piper Singapore Pte. Ltd. acted as legal advisor to Mirabaud Asset Management Limited. Ernst & Young LLP (Singapore) acted as financial due diligence provider to Ascential plc (LSE:ASCL).

Ascential plc (LSE:ASCL) completed the acquisition of Intrepid Digital Commerce PTE. Ltd. on June 30, 2022.