NEWS4 January 2022

Cint finalises Lucid acquisition

Europe M&A News

SWEDEN – Digital insights firm Cint has completed the acquisition of research technology business Lucid.

white jigsaw pieces being stacked up

The deal, which was first announced in October, was worth $1.07bn on a cash and debt-free basis, with $476m paid through more than 36 million shares in Cint and $554m in cash.

Net debt and other purchase price adjustments amounted to $40m. Cint used $120m debt financing to support the deal.
Following the deal, Lucid shareholders hold approximately 17% of shares and votes in Cint.

Cint said the acquisition will help provide the company with audience tracking technology, as well as strengthening its position in the US and globally.

Tom Buehlmann, chief executive at Cint, said: “We have always known that the visions of our companies were complementary. Now we will officially start the integration process to realise that collective vision.

“Ultimately, we will enable our customers to access millions of people’s opinions in an easier, faster and more efficient way.”

Patrick Comer, founder and chief executive at Lucid, said: “With this union, we will accelerate our path to a new reality. I’m excited to combine our people, technology, and passion to shape the future with our clients.”