Glantus snaps up New York data firm
Dublin-based tech company Glantus has acquired the New York-based Hedgehog Analytics. Though the price paid by Glantus was not disclosed, it is understood total revenues over the next two years as a result of the combined merger are expected to reach $10m (€8.1m).
"This is a major acquisition in our expansion and diversification, both geographically and sectorally," said Glantus CEO Maurice Healy. "The deal provides Glantus with a significant footprint in the US and presents us with a unique opportunity to scale up our business in the coming years."
Established in 1994, Glantus provides software solutions and artificial intelligence. Hedgehog was set up in 2014 to make data science accessible by delivering insights as well as analytics.
Hedgehog provides US companies with data-science consultancy, particularly in the financial services, pharmaceuticals and marketing advertising sectors.
In a statement yesterday, Glantus said that the rationale behind the acquisition was that Hedgehog provides data-based consultancy, but stops short of providing products to enable the solution.
This is where Glantus comes in, the company said, adding that Hedgehog would provide the Glantus suite of products as options to customers in the US.
The company's increased presence in the US will see it increase its employee numbers in sales and marketing, with further growth in support and R&D resources required in Ireland, where it currently employs 50 people.
Following the acquisition, Hedgehog will be branded as 'Glantus US' and it will be headed up by Lee Medoff.