Media communications and market research group, Aegis, announced today the acquisition of French market research group, ARTeam, with the company becoming a part of Synovate, Aegis’s fast growing global research network.
ARTeam was bought for an initial consideration of €3.0 million payable in cash on completion, with a deferred payment over three years of up to €4.14 million, subject to rigorous performance criteria.
Commenting on the deal, Robert Lerwill, Aegis Group chief officer said: “The acquisition of ARTeam is consistent with our strategy of investing in the development of strong global networks. The acquisition of ARTeam means that Synovate significantly strengthens its presence and capabilities in France,”
He added: “It also greatly benefits ARTeam’s clients as the group will join a significant international research network with a portfolio of first class solutions. I look forward to a successful future working together.”
In it’s latest company meeting, Aegis revealed that Synovate had continued to increase revenues, growing by 12% year on year in Q1 2005, with the subsidiary ending 2004 with revenues up by 24.4%, reaching £272.4 million from £218.9 million in 2003 (see Aegis Trading In Line With Expectations).
Overall trading for the year to date was shown to be in line with expectations, with revenues for the first quarter up 12.5% year on year and organic revenue growth up 5.8% compared with 4.8% in 2004.
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