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Wednesday 10 October 2018

Access Intelligence to acquire more PR SaaS

LogoMarketing communications and reputation management software supplier Access Intelligence is back on the acquisition trail. Subject to shareholder approval, the company has agreed to purchase complementary SaaS business ResponseSource which provides online intelligence to PR, marketing and journalism professionals. The £5.5m deal (£5m cash, £0.5m shares) should close next month.

Founded in 1997, ResponseSource has built a client base of some 1,900 customers. Last year it turned over £3.1m and generated profit before tax of £0.3m. Its core online Journalist Enquiry Service will improve Access Intelligence’s media data and press release wire offering. It is intended, however, that products will continue to be marketed under ResponseSource brand for the foreseeable future.

Access Intelligence has undergone significant change of late. Restructuring, a narrowing of market focus including the sale of non-core assets and a new management team have combined to put revenues on the right track (see here). Access Intelligence believes that the acquisition offers significant upsell and cross-sell opportunities to the ResponseSource client base, while accelerating the development roadmap of the company’s flagship, intelligent automation-driven Vuelio platform. The transaction is expected to be earnings enhancing in the first full year of trading.

The acquisition and its integration will be financed through a placing which has conditionally raised £6.8m. Access Intelligence is also proposing a one-for-ten share consolidation to reduce the number of ordinary shares (486,591,022 today) to something more in line with similar sized companies on AIM.

We have long considered Access Intelligence a company to watch. It is one of the new generation of suppliers enabled by digital data and AI/machine learning techniques. This latest move has done nothing to dampen our interest.

Posted by Duncan Aitchison at '09:16' - Tagged: acquisition   saas   machinelearning   machineintelligence  

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