The takeover of Alterian, the loss-making Bristol-based marketing software specialist, has been completed by Maidenhead-based SDL, one of the world’s top three providers of language services, software development and global information management services.
The move ends a long and drawn-out restructuring of Alterian, which has gone from highly-profitable and innovative group to a loss-making business riven by boardroom splits and shareholder unrest following the loss of a major contract. Along the way founder and chief executive David Eldridge left and the management team restructured.
However, the core business has remained strong with market-leading products.
All Alterian employees and partners will now transfer to SDL, which describes the takeover as “an excellent strategic fit” combining Alterian’s product suite with SDL’s web content management and eCommerce products.
Alterian’s shares were today cancelled on the London Stock Exchange. The terms of the acquisition value the entire issued share capital of Alterian at approximately £68.4m or 110p in cash for each share. This represents a premium of approximately 73.2% to the closing price of 63.5p per Alterian share on October 21, the last dealing day prior to the offer period.
SDL executive chairman Mark Lancaster said: “Understanding what your customers are interested in by analysing what they are looking at, and for how long, is key in developing your web and customer engagement strategy. We already have best-of-breed web content management technology, user guidance content management technology and leading language technology.
“Adding Alterian’s marketing analytics, social media and campaign management technology will provide customers with a superb integrated solution for managing customer engagement and improving customer experience. We are very pleased to have completed this acquisition and look forward to working with Alterian employees, partners and customers.”
