London-based consultancy firm, Elixirr International, announced the acquisition of Responsum Inc., a leading U.S.-headquartered company specializing in artificial intelligence (AI) software. The deal, valued at up to $6.4 million, combines Elixirr’s expertise in data analytics with Responsum’s proficiency in emerging technology, large language model, and generative AI.
Strengthening Services and Analytics Capabilities
With this acquisition, Elixirr expands its service offering and enhances its data and analytics capabilities. Responsum’s proprietary AI software perfectly complements Elixirr’s existing portfolio.
The deal comprises an initial cash payment of $2.0 million, $3.4 million in shares, and potential earn-out payments of up to $1.0 million based on financial performance.
Future Growth and Value Creation Opportunities
Founder and Chief Executive, Stephen Newton, highlighted Elixirr’s commitment to further acquisitions that bring significant value to their clients’ change journeys and create new opportunities for growth.
Strong Financial Performance
In addition to the acquisition news, Elixirr reported impressive figures for the first half of the year. Pretax profit rose by 17% to £9.9 million ($12.3 million), while revenue increased by 23% to reach GBP41.1 million. The company reaffirms its full-year revenue guidance range of GBP85 million to GBP90 million.
Following the announcement, Elixirr’s shares rose by 10.0 pence or 1.75% to 582.5 pence at 0710 GMT.