Media and communications group Aegis has announced the acquisition of UK-based international market research company, FW Market Research. Aegis will pay a maximum of £5 million – £466,666 cash and 1.2 million in Aegis shares now and a possible further £3 million cash, depending on FW’s performance.
Aegis is currently expanding its range of services into market research, a strategy which began with the acquisition of Market Facts in June 1999.
Doug Flynn, CEO of Aegis, said: “The acquisition of [FW Market Research] is another step towards our goal of building a global market research network. Over the past two years Aegis has invested significantly in developing research networks in the US and Asia-Pacific. This European acquisition is an excellent strategic fit and provides us with a base from which to develop further our research capability in the region”.
Stock in Aegis was up slightly this morning, ¾p higher at 127¾p. However, this is still significantly below the high of 255¾p in March last year.
