Global data analysis firm Innodata has bolstered its capabilities with the purchase of Ottawa-based MediaMiser for $5.78 million.
The deal includes an upfront cash payment of $4.4 million, followed by deferred payments in 2015 and 2016. MediaMiser also has an opportunity to receive a $5 million earn-out in May 2017 if it achieves certain growth-related performance benchmarks. Innodata has the option to pay up to 100% of the deferred amount and up to 70% of the earn-out in shares.
Using proprietary technology, MediaMiser monitors, aggregates, analyzes and shares content from more than 200,000 sources across social, traditional and digital media. Its client roster includes Best Buy and Future Shop, as well as government institutions, including Canada Post.
Innodata said the purchase aligns with its plan to expand in the areas of big data and user-generated content, while allowing MediaMiser to access its content management and technology capabilities, as well as take advantage of Innodata’s global presence to drive growth.
MediaMiser was established in 2003 and currently has 53 employees. Its founders and management team will continue to operate the business, said Innodata.
MediaMiser reported $3.9 million in revenues in its most recent fiscal year, and has posted 12 consecutive quarters of revenue growth and a three-year compound annual revenue growth rate of 25%.
MediaMiser CEO Brett Serjeantson said the deal would help accelerate the company’s growth and enhance its offerings for both new and existing clients.
