Dun & Bradstreet has revealed it is buying Avention, the maker of OneSource solutions which delivers company, contact, and market data, delivered through its own technology platform. Avention is a leader in the increasingly popular account based marketing (ABM) sector.
The company says the purchase positions it as a leader in the Sales Acceleration market which seeks to help sales and marketing professionals by providing market and company information enhanced by software. The goal is to deliver refined information to make it more current, connecting it with buying signals, and providing it with relevant context.
The ABM sector – which is described by Outsell as fragmented and underserved – is estimated to offer $10 billion of opportunity.
By integrating the Avention offering with its own prospecting tools D&B will have created a business whose products generated in excess of $200 million in 2016 revenue.
According to Bob Carrigan, chairman and chief executive officer of Dun & Bradstreet, “The Sales Acceleration space offers a big opportunity for Dun & Bradstreet. We believe as the global leader in commercial information we are well positioned to take market share and accelerate our growth strategy. Bolstered by the success of our recent M&A activity, which has exceeded its acquisition economics, we will continue to explore smart, tuck-in acquisitions that, combined with disciplined execution, will help us to further expand our leadership in this category as well as other areas of our business.”
Dun & Bradstreet purchased Avention for $150 million, net of cash assumed, on January 9, 2017. Avention generated approximately $60 million in revenue in 2016. The acquisition is expected to be neutral to as adjusted operating income in 2017 and accretive beginning in 2018 as meaningful cost synergies begin to materialize.
“We are excited to combine our world-class company and contact data with Avention’s best-in-class technology that is fully integrated with the leading software platforms utilized by B2B sales professionals and marketers,” said Josh Peirez, president and chief operating officer of Dun & Bradstreet. “Avention is a natural fit that will allow us to deliver tremendous value to customers, and the synergies we can capture put the value of this deal well above the purchase price of the acquisition.”