Key Highlights: - Pureprofile signs binding transaction agreement with i-Link Research Solutions for $1.25 million.- Acquisition enhances Pureprofile’s panel composition with i-Link’s LiveTribe.- Synergies expected from consolidation and reduced third-party costs.- i-Link’s founders to retire post-acquisition, with Pureprofile absorbing its experienced team and client relationships. In a strategic move to bolster its market presence and capabilities, Pureprofile Limited (ASX: PPL) has announced the acquisition of i-Link Research Solutions Pty Ltd. This $1.25 million transaction, structured in two tranches, will be financed through Pureprofile’s cash reserves and is slated for completion by July 1, 2024. This acquisition includes i-Link's 17-member professional team, advanced technology platforms, and the highly engaged LiveTribe panel. i-Link, a prominent Sydney-based online field and data collection company, has been a staple in the industry since 2001, conducting over one million surveys in the past year alone. The addition of i-Link’s assets is expected to significantly enhance Pureprofile's capabilities, especially with the inclusion of the diverse LiveTribe panel. This panel will bring richly representative data from across Australia, complementing Pureprofile’s existing assets. Post-acquisition, the i-Link and LiveTribe brands will continue to operate, ensuring continuity for their clients and stakeholders. However, the company’s founders, Chris Rowen and Scott Clark, will be stepping down, marking the end of an era for i-Link. Martin Filz, Managing Director of Pureprofile, expressed enthusiasm about the acquisition, highlighting the strategic benefits and growth potential. He stated, "This acquisition marks a milestone for Pureprofile as we build on our strong organic growth with the strategic addition of targeted assets and businesses. We see strong synergies and opportunities in this acquisition, and are hugely excited to leverage our combined expertise to drive our collective growth in the dynamic and fast-growing data and insights market." The strategic acquisition of i-Link is poised to expand Pureprofile’s market share in Australia, streamline operations by consolidating Sydney premises, and reduce third-party panellist sourcing costs. For i-Link, the integration into Pureprofile’s larger framework promises new growth opportunities and enhanced service offerings for both existing and future clients. Pureprofile’s vision of delivering more value from global information continues to drive its expansion and innovation in the data and insights industry. This acquisition is a testament to the company’s commitment to growth and excellence, setting the stage for future success. $PPL shares were trading at A$0.02 as of 3:40 PM AEST, 27th June 2024.
