Group Press Releases
Acquisition of Motoresearch, Inc.
12 January 2000
Acquisition of Motoresearch, Inc. Acquisition of Motoresearch, Inc. extends market research presence in the automotive sector
Aegis Group plc ("Aegis") - the media communications and market research group - announced today that it has acquired a 100% interest in Motoresearch, Inc., a market research company based in Detroit, USA.
The initial consideration of $8.0 million is payable in cash on closing; there is also deferred cash consideration, subject to challenging performance criteria, payable over the next three years. Motoresearch had revenues of approximately $10 million in 1999 and the acquired net assets are approximately $2.4 million as at 31 December 1999.
Motoresearch is a custom market research company specialising in international automotive consumer research. Founded in 1986, Motoresearch designs, executes and analyses automotive advance design clinics, drive tests, consumer satisfaction studies and creative research techniques for leading manufacturers and suppliers.
The acquisition of Motoresearch is consistent with Aegis' strategy of expanding its range of services into market research in order to form a broader platform for growth. Aegis' entry into this area was achieved through the acquisition of Market Facts, Inc. in June 1999.
Commenting on the announcement, Doug Flynn, Chief Executive of Aegis said:
"Motoresearch will complement our existing activities in the automotive industry and extends our presence in a sector that places a great deal of importance on the feedback it obtains from high quality market research."
