Ascential PLC (LSE:ASCL) has announced the purchase of WhyteSpyder LLC, a US-based e-commerce software and digital merchandising business.
The FTSE 250-listed events and information group said Arkansas-based WhyteSpyder will join its existing e-commerce arm, optimising and accelerating clients’ digital commerce performance.
WhyteSpyder provides retail managed services to more than 80 brands that trade on Walmart.com, using a mix of technology-driven search engine optimisation, retail insights, content management and rich media hosting.
Duncan Painter, chief executive officer of Ascential, said, "WhyteSpyder's specialism serving brands on Walmart's rapidly scaling marketplace will accelerate our goal to build out deep cross-platform capabilities within our digital commerce business.”
As well as announcing the acquisition, Ascential also said its recent Money 20/20 USA event achieved over 95% of the revenue from the previous event in 2019, as the events business recovers from the pandemic devastation.
Alongside the Money 20/20 Europe event in September, the group expects a combined £37mln in revenue from these two key events.