Kin + Carta Buys B2B Specialist Forecast Data

Digital transformation consultancy Kin + Carta has acquired Edinburgh-based Forecast Data, whose AI and machine learning tools help businesses understand, predict and optimise their performance. The deal is valued at an initial consideration of £3m, with a total capped at £13.1m.

Forecast's advanced analytics can be used for personalisation and segmentation, pricing optimisation, demand forecasting, and customer and marketing analytics. In addition, the company delivers commercial insights for business driver mapping, scenario analysis tools, data visualisation and storytelling. For the year ended 30th June 2022, Forecast generated revenues of £3.5m and adjusted EBITDA of £0.5m.

The acquisition comprises the purchase of MacDonald Family Limited, the European holding company of Forecast Data Services Limited and Forecast Poland, from Neil and Jennifer MacDonald and a small group of senior managers, who will continue to serve post-completion. Director and founder of Forecast Data, Neil MacDonald, will continue to drive growth in data and AI services, reporting directly to David Tuck, Group CEO of Europe at Kin + Carta. As well as the initial consideration, an earn-out is potentially payable dependent on growth in adjusted EBITDA from closing up to 30th September 2024, and will vest over 29 months.

According to Kin + Carta, the deal builds on the integrations of Cascade Data Labs (acquired in 2020) and Octain AI (acquired in 2021). Kelly Manthey (pictured), the group's Global CEO, comments: 'This acquisition strengthens our data and artificial intelligence capabilities globally helping to satisfy our order backlog and establishing a data hub for Europe that matches our strong capabilities in America. We are ready to serve our clients' business critical priorities with the next wave of innovation'.

Web sites: www.kinandcarta.com and www.forecast.global .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.