Aonic Acquires Prime Insights for Over $250M

Aonic, a global group of technology and gaming companies, has announced the completion of its acquisition of research technology firm Prime Insights. The total transaction value is reported to be in excess of $250 million, marking Aonic's largest acquisition to date.

The acquisition combines Prime Insights with Aonic's existing firms to form a global rewards and data platform. According to the announcement, this new entity will encompass over 50 million consumers across 12 company-owned brands and generate more than $300 million in annual revenue.

Aonic currently operates platforms focused on the gaming industry, including Exmox and the recently added Mega Fortuna, which provide user acquisition and testing services for mobile game developers. Prime Insights, founded in 2022 by Benjamin Ritzka, operates in the $142 billion global research technology market, specializing in programmatic sampling through its proprietary panels where users complete online surveys for monetary rewards.

The two companies have both reported organic growth of over 80% per year for the past two years. The merger is intended to combine Aonic's scale in user acquisition for gaming with Prime Insights' data collection capabilities, aiming to provide enhanced reach and engagement for both mobile game developers and consumer insights researchers.

Following the acquisition, Benjamin Ritzka will continue in his role as CEO of Prime Insights. He has reinvested a significant portion of the transaction proceeds into Aonic shares, becoming one of the group's largest shareholders. The Prime Insights team consists of approximately 120 employees working across 17 countries.

Paul Schempp, CEO and co-founder of Aonic, stated that the transaction is a major step in the company's goal of becoming a dominant global player by combining scale, data, and technology.

Caglar Eger, CEO of Aonic's Exmox platform, noted the synergies between the companies. "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," Eger said.

Oberon Securities served as the financial advisor to Prime Insights for the transaction. DLA Piper acted as legal advisor to Aonic, with EY providing financial and tax advisory services.