Web analytics company Compete Inc. will be acquired by U.K.-based market information purveyor Taylor Nelson Sofres plc for up to $150 million, officials report.
Compete, which plans to continue to operate in Boston as a stand-alone company, analyzes Internet clickstream information to provide customers with data about online behavior.
London-based TNS plans to pay an initial $75 million to acquire Compete, and up to another $75 million during the next three years, depending on Compete reaching revenue performance targets, Compete president Scott Ernst said.
Compete employs 100 workers, but Ernst said he expects that number to grow as the company invests in new products with TNS.
In 2007, Compete closed a $10 million Series C round of funding from investors that included Commonwealth Capital Ventures, Charles River Investors, North Hill Ventures, Blair Capital Partners VII, and Split Rock Partners.
Compete, founded in 2000, provides its services primarily to the telecommunications industry, media, automotive, financial services, and travel industries, according to officials. Among its customers are Subaru of America, Carlson Hotels Worldwide and Hyundai Motor America.
Last year, Compete reported a $4.5 million net loss on revenue of $14.9 million, officials said.
