KnowledgeBase Marketing acquires Fortelligent
23 March, 2005
WPP announces that its operating company KnowledgeBase Marketing, part of the Wunderman group and a leading provider of direct marketing services, has acquired the business and assets of Fortelligent, a developer of advanced mathematical and statistical techniques that accurately predict consumer behaviour.
Founded in 2001, Boston-based Fortelligent employs 17 people. The company provides its clients with a powerful analytical software platform, which is offered as a service. It automates the difficult steps in the modelling process and solves the chronic problems that often limit the accuracy of traditional predictive analytics focused on customer behaviour.
Fortelligent reported revenues of $4.6 million for the year ended 31 December 2004 and had net assets of $1 million at closing.
The acquisition of Fortelligent continues WPP’s strategy of expanding its networks in faster-growing functional areas.