Group Press Releases
Aegis Acquires American Research Company - Symmetrics
09 March 2004
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group - today announced that it has acquired, subject to conditions precedent, Symmetrics Marketing Corporation, a US-based Customer Satisfaction Measurement (CSM) research business.
The purchase price is composed of an initial consideration of approximately £2.9m payable in cash on completion. There is also deferred cash consideration payable over three years, up to a maximum of £5.5m, subject to rigorous performance criteria. For the year ended 30 June 2003 Symmetrics had revenues of £8.3m.
Customer Satisfaction Measurement has grown rapidly in recent years and has now matured into a significant sector in the research market- accounting for around 16% of global research spend. Symmetrics’ solutions are acknowledged as leading edge, using advanced analytics, and these skills will become an important part of Synovate’s global offering.
Commenting on the announcement, Doug Flynn, Chief Executive of Aegis said:
"How to build and maintain profitable, lasting client relationships is the holy grail of marketers and one the key reasons why CSM research has grown into such an important sector in the past few years. Symmetrics is an acknowledged thought leader in CSM research in the US and now, as part of Synovate’s international research network, we hope it will develop a similarly strong commercial position in the global research market."
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
