无忧传媒 today聽, a designer and developer of custom software solutions, to Chicago-based data engineering and technology company OneSix, marking another step in the company鈥檚 ongoing efforts to simplify its portfolio and focus on its core businesses.
Terms of the sale, which closed June 7, were not disclosed.
Advantage said it intends to use the majority of proceeds from the transaction to reinvest in its business and reduce debt.
Strong Analytics, acquired by Advantage in 2021, specializes in providing data science services to brands primarily in the pharmaceutical, marketing and hospitality industries.
A substantial majority of the brands Strong serves fall outside of Advantage鈥檚 core retailer and consumer packaged goods clients.聽As part of the agreement, Strong Analytics will be integrated into OneSix.
鈥淎s we continue to execute on our strategy to simplify our business, this transaction represents another step in sharpening our focus on our core capabilities,鈥� said 无忧传媒 CEO Dave Peacock,聽. 鈥淲e thank the Strong Analytics team for their contributions and wish them the best in their future endeavors with OneSix.鈥�
The sale advances the company鈥檚 broader growth acceleration plan, which includes efforts to simplify its portfolio 鈥� enabling greater focus on its core capabilities while creating the capacity to strengthen its balance sheet, drive productivity and fuel growth.
Advantage continues to progress toward its target of achieving a net debt to adjusted EBITDA ratio of less than 3.5 times, Peacock said.
The sale also builds upon a series of transactions completed in recent months, including two divestitures completed last month: the sale of聽聽and the sale of聽.
鈥淚鈥檓 confident these moves position us to continue to lead as a strategic partner of choice, delivering the speed and precision required to generate demand and convert more shoppers into buyers on behalf of our clients,鈥� Peacock said.