Ascential, eCommerce optimization platform buy out the eCommerce firm. Intrepid works with brands in Southeast Asia. Its current deal value account to upto $250 million. It offers execution for Shopee and Lazada.
The company also came up with the statement, “Intrepid provides an entry point for our Digital Commerce business into the fast-growing Southeast Asian marketplaces, expanding its global footprint in this important region for eCommerce, Our clients are always searching for ways to access the next billion consumers, and Southeast Asia eCommerce provides a clear pathway to them over time.”
Ascential acquired the eCommerce firm with a cash consideration of $57 million. It will also be paying deferred consideration over four years. The consideration is between $100 million and $197 million. It is about the financial target. There is also a maximum total consideration concerning the company value of $250 million.
Intrepid has a very strong network in south-east Asia. It has also already proved its expertise in the marketplace. It has a great client base in the important region. There are also enhanced capabilities in the area. All of this will help Ascential come up with a better market for their products. It will help the digital commerce business to grow.
The same kind of acquisition was also seen some days ago. Citcon came into the partnership with Bold Commerce. It was to combine the Citcon payment with Bold’s eCommerce services. Many organizations are trying to either come into partnership or want to acquire eCommerce firms. The market today sees a great development in the eCommerce platforms.
Citcon President also confirmed the factor of growth with the companies. Consumers are getting hemmed into this ecosystem with the eCommerce firms. The merchants are looking for an effective payment system. And eCommerce firms are trying to cater to these services. So there is a major development in these domains. The North American eCommerce retailers believe in this very concept.