Final earn-out payment made by dotDigital group to Netcallidus founders
Digital marketing services group dotDigital has made the final payment towards its acquisition of Northampton SEO company Netcallidus.
The final payment of £170,000 has been made to complete the earn-out and accelerate the integration of the business within the group, it has been announced, following the initial acquisition which took place in May of 2010.
The founders will not step back for their full time roles, but will provide support on a consultancy basis of the company, now known as dotSearch.
SEO revenues up until 30 June had grown within dotDigital to £1.2m from the previously year of £100,000.
Peter Simmonds, chief executive of dotDigital Group Plc, commented: "We have been delighted with Netcallidus's enthusiasm to merge with us and to train our sales and account management teams. This has lead to accelerated sales including cross sales from existing customers, forming a valuable source of new business. We are now able to offer an even more integrated service to our new and existing customers.
"Now that the integration of Netcallidus is complete, we will be turning our attention to further acquisition opportunities."