Hitwise is set to be purchased by global information solutions company, Experian, for around $240m.
The acquisition, funded from Experian’s existing cash resources, is subject to regulatory approval and is expected to close in May.
Experian chief executive officer Don Robert said: “We have been successfully repositioning our marketing solutions business to meet our clients’ needs as they continue to switch more of their advertising spend online.
“Hitwise, which is a rapidly growing, successful business, brings new, unique data to Experian and complements the existing data, tools and expertise that we already offer to clients in other areas such as research services and email distribution.”
Hitwise chief executive officer Andrew Walsh said: “Over the last 10 years, Hitwise has developed a truly unique digital intelligence service that helps inform the online marketing strategies of 1,200 clients around the world every day.
“We are excited to become part of Experian, having worked with them for over four years.
“We will now be able to accelerate Hitwise’s growth and profitability through access to Experian’s wider pool of data, tools and clients, while more quickly expanding our global footprint.”
Hitwise collects and aggregates information from Internet Service Providers (ISPs) on how over 25 million consumers use and search the Internet in the US, UK, Australia and other countries in Asia Pacific.
In the year to March 31 2007, Hitwise is expected to generate sales of approximately $40m (a year-on-year increase of about 50%) and a small profit.
Experian expects Hitwise to grow sales by more than 40% in the year to March 31 2008.
Hitwise, which has over 200 employees based mainly in Melbourne, New York and London, will form part of Experian Marketing Solutions.
By Bev Fearis
