The UK-based data and analytics company Ascential has purchased Singapore-based e-commerce omnichannel solutions provider Intrepid in a deal that might be valued at up to $250 million USD.
Intrepid received an immediate cash payment of US$57 million as part of the transaction, and deferred considerations will be paid over the following four years. The postponed payments, which may total anywhere between US $43 million and US $140 million, are contingent upon the company reaching “specified financial benchmarks.”
According to a statement, Intrepid would have to meet “extremely stretched criteria” for the overall consideration to exceed $250 million US. The e-commerce facilitator is “unable to share further” at this time on its financial goals, according to a spokeswoman.
Intrepid will now be a part of Ascential’s digital commerce business, enhancing the latter’s footprint in Southeast Asia and providing clients of the UK-based company with a point of entry.
Ex-Lazada executives established Intrepid in Vietnam in 2017 under the direction of Christopher Beselin. In a series B fundraising round sponsored by Mirabaud Asset Management in June 2021, it raised US$11 million. The company also has operations in Thailand, Indonesia, Malaysia, the Philippines, and Singapore.
