Aonic acquires Prime Insights for $250m in tech sector push
Aonic has acquired research technology firm Prime Insights in a deal worth more than $250 million, significantly expanding its reach and product offering outside the video game sector.
The acquisition marks Aonic's largest transaction to date, adding Prime Insights to its portfolio alongside previous purchases such as adtech firm Exmox, which was bought for $100 million. With this acquisition, Aonic's global rewards and data platform will serve over 50 million consumers across 40 countries and generate annual revenues exceeding $300 million.
Strategic shift
This move represents a major shift in Aonic's business strategy. Historically focused on video games, Aonic's expansion into research technology and adtech signals a push to become an influential participant in the broader technology sector, including B2B services.
Prime Insights, established in 2022 by technology entrepreneur Benjamin Ritzka, has built a reputation as a fast-growing company in the global research technology market, which is estimated to be worth $142 billion. The company leverages programmatic sampling and a network of proprietary panels, enabling millions of users to earn money by completing online surveys via various web and mobile platforms.
Both Aonic and Prime Insights have posted annual organic growth rates of above 80% over the past two years, underlining the scale and pace of the merger. The new, combined platform will aim to offer enhanced reach, richer data insights and increased engagement for clients in both mobile gaming and consumer research.
Leadership and structure
Ritzka will remain as Chief Executive Officer of Prime Insights and has invested a significant portion of the proceeds from the acquisition into Aonic shares, making him one of the group's largest shareholders.
"Prime Insights has rewritten the rules in programmatic data collection for consumer insights as a true disruptor in the highly competitive world of research technology," says Aonic CEO and co-founder Paul Schempp. "It is rare to come across such a brilliant tech entrepreneur as Benjamin, and as powerful team as Prime Insights, so we couldn't be happier to partner up. This transaction marks a major step in our vision of becoming a dominant global player. Bringing together scale, data and technology will be the key to sharpening our competitive edge. We welcome Benjamin and his team with highest regards – they deserve every accolade."
Benjamin Ritzka, CEO and founder of Prime Insights, commented on the deal, stating:
"The growth path we achieved with Prime Insights over recent years is unprecedented in our industry. A transaction of this scale is an amazing validation of everything we've built. A huge thanks to my fantastic team at Prime Insights.
"I couldn't have thought of a better match than with Aonic and I'm a big believer in our shared vision. We share the same culture, mindset and ambition. The two firms are extremely complementary, which will allow us to double down on adding unparalleled value to our clients and users. Our team is excited to join Aonic in building the global market leader of rewards platforms."
Commenting on the combination of assets and expertise, Exmox CEO Caglar Eger said:
"There are huge synergies between our work at Exmox in rewarded user acquisition for gaming clients and the rewarded survey platforms offered by Prime Insights. Prime Insights' edge in data collection and analysis will allow us to turbo-charge engagement for gaming clients, while our scale and focus on user engagement will significantly improve data quality and reach for the consumer insights industry. We're extremely excited to begin the work together!"
Growth and advisory
The enlarged group now encompasses 12 consumer brands and about 600 employees worldwide. Prime Insights' staff of around 120 people are based in 17 different countries, bringing additional international presence to Aonic's existing operations.
Oberon Securities acted as the financial advisor to Prime Insights on the transaction. DLA Piper served as legal advisor to Aonic, and EY acted as financial and tax advisor to Aonic.
