Swansea, Illinois-based startup OneSpace, which provides e-commerce technology and services for consumer brands, has been acquired by a firm headquartered in the United Kingdom.
OneSpace said Monday it has been purchased by London-based Ascential (LSE: ASCL.L). Financial terms of the deal were not disclosed.
OneSpace’s offers e-commerce search data, product management and content optimization technology and services to consumer brands. It says it works with about 60 consumer packaged goods companies in the U.S., with clients including Nestlé Purina PetCare, Anheuser-Busch and Campbell Soup Co. The 96-person company has raised more than $20 million in venture capital since its launch, including a $9 million Series B round in 2016 that was led by Clayton-based Lewis & Clark Ventures. The company had been developing a platform to help companies source freelancer workers for projects prior to its shift to e-commerce tools and services.
Through its purchase by Ascential, OneSpace will become part of a company that has more than 2,000 employees and clients in over 120 countries. Ascential works with consumer brands to provide them with data analytics, technology and services for digital commerce, product design and marketing operations. OneSpace will join Ascential’s Digital Commerce business unit, the London firm’s largest business division by annual revenue.
"It’s our belief, as well as that of Ascential's, that this is a natural and strategic fit for the continued success of OneSpace. The future of OneSpace is at a very pivotal and promising point, and our alignment with Ascential will enable us to scale more quickly by leveraging their investment resources, expertise, numerous complementary business units, and global footprint,” said Stephanie Leffler, founder and CEO of OneSpace.
Ascential CEO Duncan Painter said in a new release that he believes OneSpace’s technology and services complements those of its existing digital commerce businesses and that his firm’s global footprint will help grow OneSpace.
