Group Press Releases
Aegis Acquires Indian Research Business
08 September 2003
Aegis Acquires Blackstone Market Facts in India.
Aegis Group plc (“Aegis”) - the media communications and market research group - announced today that it has acquired all the outstanding share capital of Blackstone Market Facts (BMF) a research company based in India. Aegis had previously held 25% of the issued share capital of BMF.
The initial consideration of approximately £0.6m is payable in cash on completion and the deal is subject to approval by the Indian government; there is also a small amount of deferred cash consideration, subject to challenging performance criteria, payable over the next three years. BMF had revenues of approximately £2 million for the year ended 31 March 2003.
Commenting on the announcement, Doug Flynn, Chief Executive of Aegis said:
“BMF is a fine market research company the acquisition of these outstanding shares solidifies the position of Synovate, our international research network, in India. BMF has shown rapid growth in this fast expanding market and the acquisition further enhances our international capability.”
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
