A LIMERICK tech and marketing company has been acquired by a full-service digital service agency, it has been confirmed.
Coalface, a data science and digital marketing company, based in Raheen, has been acquired by Cork company Granite.
The acquisition will see Granite’s workforce grow to 145 digital specialists, with its revenues expected to grow to €18million in 2025.
It is not known exactly how much the deal was worth, but it is understood to be a seven-figure deal comprised of cash and equity.
The move enables Granite to have an enhanced suite of services for customers seeking data-driven solutions.
Coalface CEO Adrian Feane also joins Granite as part of the deal.
Coalface manages over €220million in annual online revenues across 68 countries. With this acquisition, Granite’s customer base expands by over 20 blue-chip clients, including Aer Lingus, An Post, Allianz Care, Laya Healthcare, and Continental.
Adrian Feane, CEO of Coalface said that the acquisition is an “exciting” step.
“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,” Mr Feane said.
“This new venture creates further opportunities for us to shape a more data led approach to how marketers define their digital strategies.”
Granite CEO Conor Buckley said that “the acquisition of Coalface aligns with our vision of cementing Granite as a leader in the digital transformation space.”
“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,” Mr Buckley concluded.
