Global analytics firm acquires SG ecommerce enabler Intrepid in up to $250m deal

Singapore-based Intrepid, an ecommerce omnichannel solutions provider, has been acquired by UK-based data and analytics firm Ascential, with the deal being potentially worth US$250 million.

Intrepid’s Vietnam team / Photo credit: Intrepid

The acquisition saw an initial cash payment of US$57 million to Intrepid, with deferred considerations to be paid over four years. The deferred payments are dependent on the firm meeting “certain financial targets” and may lead to an additional US$43 million to US$140 million.

The total consideration will be capped at US$250 million, which would require Intrepid to reach “very stretching targets,” according to a statement. A spokesperson for the ecommerce enabler said that it is “unable to disclose further” on financial targets at this point in time.

The acquisition will add Intrepid to Ascential’s digital commerce division, which will strengthen the latter’s presence in Southeast Asia and serve as a gateway into the region for the UK-based firm’s clients.

Intrepid was founded in Vietnam in 2017 by ex-Lazada executives and it is led by Christopher Beselin. In June 2021, it raised US$11 million in a series B funding round led by Mirabaud Asset Management. Aside from Singapore and Vietnam, the firm also operates in Indonesia, Malaysia, the Philippines, and Thailand.

See also: Explaining TikTok’s ecommerce bet in Southeast Asia