Integrated marketing service provider Alterian acquired Intrepid, a market research, social media and analytics consultancy, on September 1 to bolster its social media marketing offerings.
Alterian has paid $3.5 million of the $11.5 million total price. The earn-out will be based on performance through the end of March 2011 and paid out through 2013, said David Eldridge, CEO of Alterian.
Principals will get approximately $1 million of the first $3.5 million in shares, he said.
“We see [social media] as next step to address market demand,” said Eldridge, noting that Intrepid focuses on analytics, “which is really our heritage.”
Alterian has not yet determined whether it will continue to use the Intrepid name or integrate the brand into Alterian.
Eldridge said the entire Intrepid team will remain onboard, with no plans for layoffs.
He added that in addition to “gaining the ability to address a broader market where people want to use social media,” obtaining Intrepid’s geographic footprint was attractive. Alterian, which has a presence in the UK, US and is growing in the Asia-Pacific region and South America, wanted a team that could support its offerings internationally. Intrepid, he said, has a presence in the UK and US, as well as Vietnam.
Eldridge said Intrepid gains a “direct connection into the product development road map.” The company now has access to Alterian’s global customer base of 1,500 brands, as well as its platforms and resources, including Web analytics, personalization and e-mail tools.
