🔮 10 Data & Analytics Predictions for 2025 - Asymmetrix Newsletter #47

The future's bright for Data & Analytics.

Dec 16, 2024

As the old year comes to an end, it’s traditional in newsletterland to look to the year ahead and consider what might happen next.

So, for our final newsletter of 2024 (see you again in early January) we’ve dug out our tarot cards, brushed off our crystal ball, and unleashed our I Ching sticks to provide our vision of the Data & Analytics future.

In more substantive news, we report on deals including Vaisala’s acquisition of WeatherDesk from Maxar for $70m, LexisNexis Risk Solutions’ acquisition of IDVerse, and, of course, Omnicom’s $13bn takeover of Interpublic.

There were interesting funding rounds including Zest AI’s $200m from Insight Partners, and Dealfront’s $30m raise from AshGrove Capital.

Plus a ton of fascinating Partnerships and C-Suite moves.

Thank you to the roughly 1,000 subscribers to the newsletter who have come on board this year, and to the many more of you who have read but not signed up. We look forward to spending 2025 in your company.

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📧 If we missed your deal, or you would like to talk, please email us at a.boden@asymmetrix.info.

🔮 2025 vision

a person with a large pile of paper on the head — Photo by Bruno Souza on Unsplash

The following predictions are not based on inside information, and are not intended as investment advice. They are merely Asymmetrix’s thoughts on what might happen in the world of Data & Analytics in 2025.

AlphaSense to IPO - this one is easy. An IPO is the probable exit for AlphaSense’s investors as the business continues on its independent journey. Exact timing, as ever for an IPO, will be dependent on multiple factors, so it may tip into 2026.
Two large Energy & Commodities Data & Analytics providers to be merged by a Private Equity giant - It’s been some time since we had a large deal in E&C, but PE continues to salivate over the opportunities in the sector. Enverus and Kpler, anyone?
Thomson Reuters to acquire multiple AI-driven legal software providers - another straightforward one. TR have been very clear in their strategy, both in word and deed. Harvey.ai could make sense, but are they overvalued?
S&P Global to divest a division - it’s traditional for new CEOs to look to make a mark on the business they take over. New CEO Martina Cheung will likely be considering updating S&P’s strategy. Would selling the Mobility division make sense?
One or more Carbon Credit Rating Agencies to be acquired by traditional Ratings Agencies, such as Moody’s or S&P - this would work for both sides. The race is on for CCRAs such as BeZero and Renoster to get to scale and fight off their competitors. And traditional players need to increase their ESG focus.
ZoomInfo to be taken private - the Company Data / Sales Intelligence provider has struggled under public ownership of late. Shares are trading at nearly 1/8th of their 2021 peak. The company looks a tasty opportunity for a large PE fund.
Consolidation in the Electronic Health Record / Real World Data market - there are a number of assets - Flatiron, Veradigm, Netsmart, Surescripts - whose owners would see a combination as a sensible next step.
A search/AI provider to launch a research product similar in nature to a Market Research Data & Analytics provider - we’re starting to see signs of this already from the likes of Exa. But it would make more sense for Google/OpenAI to release a competing product…
Green Street to continue to roll up the Real Estate Data & Analytics sector - Cherre would be a tasty next meal.
The underbidders from the Preqin auction - LSEG and Bloomberg - to look to acquire the next best assets in the Private Markets space. Morningstar’s PitchBook and ION Group’s Acuris might well be in their sights.

And one more for luck…

SIX Global’s Financial Information Division to be spun out under PE ownership - we know already that this is likely to happen. Could it also be merged with another provider - Fitch?

M&A and Fundraising

Deal chatter

⚖️ Centaur Media Plc to conduct a strategic review.

Centaur Media Plc is an LSE-listed, London, UK-based provider of business intelligence.
According to a Press Release, Centaur will conduct a review of their business operations and strategy in order to “address the Board's desire to realise Centaur's potential and to maximise shareholder value”.
Centaur has a market cap of £36m.
Asymmetrix Sector: Legal, Marketing

📈 24 Exchange seeks $50m.

24 Exchange is a Hamilton, Bermuda-based exchange, backed by investors including Point72 Ventures, Morgan Creek Digital Assets, JPMorgan Chase and Standard Chartered.
According to Axios, 24 Exchange is looking to raise around $50m.
Asymmetrix Sector: Financial.

🎯 HIG Europe submit formal offer for Kantar Media.

Kantar Media is a London, UK-based provider of data and audience measurement, targeting, analytics and advertising intelligence services, backed by Bain Capital and WPP.
According to Sky News, HIG Europe has submitted a formal offer for Kantar Media.
Media articles have estimated Kantar Media to be worth between $1.34bn and $2bn.
Kantar Media has EBITDA of roughly USD120m.
Cinven, CVC, Triton Partners have also been rumoured to be participating in the auction process. Ipsos have ruled themselves out.
JP Morgan and Jefferies are advising the shareholders of Kantar Media.
Asymmetrix Sector: Advertising.

Announced M&A

🏛️ Stout acquired DebtX Analytics.

Stout, a Chicago, IL, USA-based advisory firm, backed by Audax Private Equity, announced the acquisition of DebtX Analytics, a private Boston, MA, USA-based provider of loan valuation services and stress testing.
Asymmetrix Sector: Financial.

🔨 TA Associates sells £84.4m stake in Auction Technology Group.

TA Associates, a Boston, MA, USA-based private equity firm, sold its 12.6% stake in Auction Technology Group, an LSE-listed, London, UK-based provider of software for online marketplaces and digital auctions.
ATG’s market cap is £705m.
Asymmetrix Sector: Marketplaces.

💻 NürnbergMesse acquired WEKA Fachmedien GmbH.

NürnbergMesse, a Nürnberg, Bavaria, Germany-based exhibition company, backed by the Free State of Bavaria and the City of Nuremberg, announced the acquisition of WEKA Fachmedien GmbH, a Haar, Bavaria, Germany-based provider of trade publications and digital platforms and events in electronics, automation, and ICT, backed by Paragon.
Financial terms were not disclosed.
Asymmetrix Sector: Electronics.

🌤️ Vaisala acquired WeatherDesk from Maxar.

Vaisala, a Nasdaq Helsinki-listed Vantaa, Finland-based provider of measurement instruments and intelligence for climate action, announced the acquisition of WeatherDesk, a provider of global weather forecasts and observations, from Maxar Intelligence, a Westminster, CO, USA-based provider of secure, precise geospatial insights, backed by Advent International.
The purchase price is $70m.
In 2023, the net sales of Maxar’s WeatherDesk business amounted to $13m.
Asymmetrix Sector: Weather.

🪪 LexisNexis Risk Solutions, part of RELX, acquired IDVerse.

LexisNexis Risk Solutions, an Atlanta, GA, USA-based financial crime compliance, insurance and risk intelligence provider, a subsidiary of LSE-listed RELX, announced the acquisition of IDVerse, a London, UK-based identity verification software provider, backed by Equable Capital.
Financial terms were not disclosed.
Asymmetrix Sector: Identity.

📢 Omnicom acquired Interpublic.

Omnicom, a NYSE-listed New York, NY, USA-based provider of data-inspired, creative marketing and sales solutions, announced the acquisition of Interpublic, a NYSE-listed New York, NY, USA-based provider of marketing solutions.
Interpublic was valued at $13bn.
The combined entity had 2023 revenue of $25.6bn, adjusted EBITA of $3.9bn and free cash flow of $3.3bn.
Omnicom was advised by PJT Partners. Interpublic was advised by Morgan Stanley.
Asymmetrix Sectors: Advertising, Marketing.

Later-Stage / Growth funding

🏛️ Zest AI

Burbank, CA, USA-based provider of AI lending technology.
Raised $200m in funding from Insight Partners.
Asymmetrix Sector: Credit.

💰 Dealfront

Karlsruhe, Baden-Württemberg, Germany-based sales intelligence provider.
Raised $30m in funding from AshGrove Capital.
Asymmetrix Sector: Sales.

🩺 Particle Health

New York, NY, USA-based real world data provider.
Raised $10m in funding from existing backers, which include Menlo Ventures, Canvas Ventures, and Pruven Capital.
Asymmetrix Sector: Healthcare.

🩺 1m

New York, NY, USA-based healthcare risk management Data & Analytics technology company.
Raised $10m in funding led by Banner Health, with participation from Cleveland Clinic, Stanford Health Care, St. Charles Health System, Carle Foundation, and First Derivative Capital.
Asymmetrix Sector: Healthcare.

🚗 Carro

Singapore-based online used car platform.
Raised an undisclosed amount of funding from Woori Venture Partners.
Asymmetrix Sector: Automotive.

🛰️ Pixxel

Bangalore, Karnataka, India-based hyperspectral data provider.
Raised $24m in a Series B extension round, adding new investors M&G Catalyst and Glade Brook Capital Partners. The investment brings Pixxel’s total Series B funding to $60m. Pixxel closed the initial Series B round in June of 2023, with Google, Radical Ventures, Lightspeed, and others. Pixxel has raised a total of $95m to date.
Asymmetrix Sector: Earth Observation.

🎯 Inbox Insight

Winchester, Hampshire, UK-based Demand Intelligence platform.
Raised an undisclosed amount of funding from existing investor Mobeus Equity Partners.
Asymmetrix Sector: Marketing.

Early-Stage

🏛️ GovSignals

Washington DC, USA-based government contract intelligence provider.
Raised $5.5m in seed funding led by Unusual Ventures.
Asymmetrix Sector: Procurement.

🌳 Artem

Berlin, Germany-based carbon compliance and pricing platform.
Raised EUR1.5m in funding led by Vireo Ventures.
Asymmetrix Sector: EHS.

🩺 Saventic Health.

Warsaw, Poland-based rare disease diagnostics platform.
Raised $1.9m led by 4growth VC in co-investment with Poland’s NCBR Investment Fund and the U.S.-based TNI Fund.
Asymmetrix Sector: Healthcare.