Enero expands in the US and Asia with major acquisitions

By AdNews | 1 July 2022
Credit: NASA via unsplash

Creative technology company Enero Group announced two major acquisitions - ROI DNA, Inc, a strategic B2B sales and marketing agency, and GetIT Pte Ltd, a specialist B2B technology marketing agency.

Both become part of the Hotwire Group to advance the consultancy’s network of global businesses.

US-based ROI DNA has 135 employees and GetIT 30 from Asia, bringing the combined Hotwire team to more than 500 employees and 14 offices around the world.

Enero CEO Brent Scrimshaw: “Adding sophisticated performance marketing capabilities in North America and APAC enhances Enero’s global positioning and unlocks further opportunities to deepen Hotwire’s partnerships with some of the world’s leading technology companies."

The initial acquisition payments will be funded by a new $50 million, three-year revolving bank facility established with Westpac.

Total acquisition consideration for ROI DNA comprises an initial payment of US$26.4 million in cash and US$6.6 million of Enero shares. Deferred payments will be tied to financial outcomes over the next three years, paid in a mix of cash and shares. The maximum consideration payable is capped at US$90 million. 

The GetIT acquisition will launch Hotwire’s owned office network across Asia, including Singapore, India, Malaysia, and Japan with a client portfolio of high-profile tech brands such as AWS, Oracle, Fortinet, Fujitsu, Cisco, Telecom Malaysia, Google Cloud and Trend Micro.

Total acquisition consideration comprises an initial payment of S$2.7 million in cash and S$1.8 million of Enero shares. Additional deferred payments will be tied to financial outcomes over the next three years paid in a mix of cash and shares. The maximum consideration payable is capped at S$15 million.

Heather Kernahan, Hotwire global CEO, said: “The addition of ROI DNA and GetIT to our portfolio allows us to accelerate our reputation, relationship, and revenue services globally to provide a unique marketplace offering, which we believe is the key to success in the future tech landscape.

"The acquisitions enable us to support clients with both long-term brand awareness and near-term sales results. In addition, Enero and Hotwire already attract and retain some of the best talent globally and aim to provide the best working experience for all our teams. We are excited to bring our commitment to the whole employee to the ROI DNA and GetIT teams.”

Matt Quirie, ROI DNA CEO, said: “We started ROI DNA to drive ginormous results for our clients and to create a differentiated culture that asks each person to bring their whole selves, think outside the box, do it right, and have a hell of a lot of fun doing it.”

Anol Bhattacharya, CEO of GetIT, said “We’ve been able to grow rapidly across Asia with a clear market differentiator of delivering long-term value paired with short-term results. Now, we’re excited to expand our horizons and partner with global teams and opportunities at Hotwire.”

Enero last month said it expects to deliver 20% growth in net revenue to between $192 million and $193 million for the full year to the end of June.

In a trading update, the company sees operating EBITDA, excluding significant items, of between $61 million and $62 million, representing 34% - 36% year-on-year growth.

Enero in May sold market research agency The Leading Edge and online research firm The Digital Edge as part of a refinement of its business portfolio which includes BMF, Orchard, Hotwire, CPR and OBMedia. 

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