Meltwater announces agreement to acquire social influencer marketing company Klear for $17.8m
Meltwater B.V., a global SaaS provider of media intelligence and social analytics, has entered into an agreement to acquire Klear, an Israeli SaaS company and influencer marketing space.
For the full year 2020, Klear reached revenues of $7.6m. Excluding earn-out, Meltwater has agreed to purchase Klear for a price of 1.4 times 2020 revenue settled in cash at closing. The transaction is expected to close on or around April 14th, 2021.
“The rise of the influencer marketing space – today a $10bn industry growing 50% per year – is one of the clearest examples of how social media is transforming traditional marketing,” says Meltwater CEO John Box.
“Back in 2017, Meltwater partnered with Klear after doing a global search for the best product in this space. Together we have successfully won clients such as Nestlé, Walmart, OGILVY, Audi, H&M, BMW and Bvlgari. We can now fully combine Klear’s industry leading product with Meltwater’s global customer reach and create a formidable player to shape the future of the social influencer marketing space.”
Klear was founded in 2012 by three brothers Eytan, Noam and Guy Avigdor and is currently present in the US and the UK in addition to the headquarters in Israel.
Klear’s solutions can be integrated with contracting and payment solutions, along with ecommerce integrations with the likes of Shopify, allowing customers to manage their influencer marketing spend and see exactly how much revenue those influencers are driving for their brand, all in one place.
The Klear acquisition will be Meltwater’s second acquisition since the company was listed on Euronext Growth Oslo in December 2020 and its tenth since 2016. The acquisition is part of Meltwater’s growth strategy, which involves investments and acquisitions in the social media segment.