In an announcement to the London Stock Exchange, Ebiquity said it was acquiring the majority of the company from Stratigent’s founders, Julie Oberweis and Josh Manion, for an initial consideration of approximately $4m. 

The maximum total consideration for these interests is up to $7m, payable in cash, depending on the performance of the Stratigent business in the full financial year ending 31 December 2013.   

Members of Stratigent’s management team hold a minority of interests in Stratigent and these interests are being acquired for an aggregate consideration of up to $1.5m, depending on the performance of the business in the three financial years ending 30 April 2016. 

Stratigent helps its clients to measure and optimise their consumer communications and engagement, predominantly focused on ‘owned’ channels. The acquisition is expected to be earnings enhancing in the first full financial year and its CEO, Bill Bruno, will remain as chief executive of the business.

Chief executive officer of Ebiquity Michael Greenlees said: “The acquisition of Stratigent represents a significant step into marketing performance optimisation in the US market. We are delighted to welcome Bill Bruno and his team to Ebiquity and look forward to their growing contribution to our business.”