UK-based data firm Ascential has sold its location intelligence arm Groundsure to a subsidiary of legal tech, software and information group ATI Global for £170m.
Previously sitting within Ascential’s Built Environment & Policy division, Groundsure provides property-specific opinions and analysis of land using datasets it compiles and curates itself. Ascential says the disposal will provide capital for its core business areas, particularly its Digital Commerce segment, including cash for organic investments and potential M&A opportunities. Ascential also focuses on product design through its global trend forecasting service WGSN, and on marketing through global benchmarks. In 2019, it acquired a stake in online behavioral data firm Jumpshot.
CEO Duncan Painter comments: ‘We are delighted that Groundsure has found new owners who will continue to nurture its strong team, product and potential as an independent standalone business. For us, today’s transaction brings into even clearer focus our strategy and core customer proposition: enabling our customers to design and create the right products, maximising their marketing impact and optimising their digital commerce performance’.