Dublin-based tech company Glantus acquires Hedgehog Analytics
Dublin-based tech company Glantus has acquired the New York-based Hedgehog Analytics.
Total revenues over the next two years as a result of the combined merger is expected to reach $10m (€8.1m), it is understood.
"This is a major acquisition in our expansion and diversification in both a geographically and sectorally," Maurice Healy, chief executive of Glantus, said.
"The deal provides Glantus with a significant footprint in the United States and presents us with a unique opportunity to scale up our business in the coming years."
Established in 1994, Glantus, which provides software solutions and artificial intelligence, already has presence in the US, with an office in New York.
Meanwhile, data analytics company Hedgehog was established in 2014 by a group of specialists with backgrounds in statistics to make data science accessible by delivering insights as well as analytics.
Today Hedgehog provides a range of US companies with data science consultancy, particularly in the financial services, pharmaceuticals and marketing advertising sectors.
In a statement, 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, and going forward, Hedgehog would be providing the Glantus suite of products as options to its pre-existing and prospective 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, who said today he is "delighted" to be joining the Glantus group as chief analytics officer.
The acquisition comes after the company recently formed a partnership with UK housing solutions provider Castleton UK in a deal set to be worth around €10m for the company.