THE WHAT? Fashion, luxury and beauty data research and insights company Launchmetrics has acquired competitor media planning firm DMR Group, according to WWD.com.
THE DETAILS? Launchmetrics will increase its customer base to 1200 clients via the acquisition, a boost of 20 percent.
Launchmetrics is looking to reach a critical size in view of an initial public offering,
Taking to a statement, Launchmetrics said the increased number would bring it closer to reaching its objective of US$100 million in annual recurring revenue by 2025.
Michael Jais, Chief Executive Officer of Launchmetrics, told WWD, “That’s really the measure that shows we’re heading toward an IPO in the next few years.”
THE WHY? The acquisition will enable Launchmetrics to expand its existing tools to measure and optimize its performance alongside DMR’s ‘white glove’ service.
“We’re going to keep the added value of what they were doing for their clients. I think it’s really very important, because that quality of service is one of DMR’s great strengths. Then we’re going to add data and technology to give those companies access to even more powerful insights.
“We think it’s important to be able to offer a solution that allows us to address all of our clients’ needs. Instead of going head-to-head with DMR to establish who has the best coverage and the best historical data, we’ll be focusing on the future. This allows me to grow faster.”
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