Irish digital agency Granite has acquired Limerick-headquartered data science and digital marketing company Coalface, as it seeks to further develop its digital capabilities.
A figure for the deal has not been announced, but it is believed to be a seven-figure sum, comprising cash and equity.
Coalface is a data science and business intelligence agency that provides insights to businesses to boost their digital performance, specialising in search strategies, AI-based analytics and content programmes that drive growth. It currently manages more than €220 million in annual online revenues for clients across 68 countries, with its customer list including Aer Lingus, An Post, and Allianz Care.
“The acquisition of Coalface aligns with our vision of cementing Granite as a leader in the digital transformation space,” said Conor Buckley, CEO of Granite. “Coalface’s advanced AI capabilities and innovative approach to data science boosts our service offerings, allowing us to deliver increased value to our clients. This partnership provides marketers with enhanced visibility into their marketing performance and a broader suite of tools to meet their business goals.”
The deal will see Granite’s workforce grow to more than 145, with revenues expected to exceed €18 million next year. Chief executive of Coalface, Adrian Feane, will join Granite.
“Joining Granite is a very exciting step for the team and clients at Coalface. Having already worked closely together with Granite on multiple projects, we could clearly see the benefits of a full integration of our operations to deliver more complete solutions for our highly valued clients,” said Feane. “This new venture creates further opportunities for us to shape a more data led approach to how marketers define their digital strategies.”
Founded in 2009, Granite Digital provides digital solutions in areas such as strategy, web design, web development, digital marketing and search engine optimisation, along with intelligent solutions that use AI, machine learning, n ext-generation platforms such as blockchain and managed hosting to its customers. It has more than 1,200 organisations in its client list, including Enterprise Ireland, Bons Secours Health System, Dublin Bus, Davy, Fexco and Aon.
Among its recent acquisitions are digital design agency Wondr, and the digital wing of New-York-based LCM 247.
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