Group Press Releases
Aegis Acquires Top US Internet Search Marketing Agency
22 December 2004
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group – announced today that it has acquired a top US internet search marketing agency iProspect.com, Inc. (iProspect). In this transaction Aegis has acquired 100% of the equity, which was previously held by its founders. iProspect will now become part of Isobar, the Group’s digital network. This is one of a number of important acquisitions for Isobar in the past six months and will enhance further the already comprehensive range of digital marketing services that Isobar can offer clients.
The purchase price will be composed of initial consideration of approximately $32.0 million payable in cash on completion. There will also be deferred cash consideration of up to $18.0 million, payable over two years, subject to the satisfaction of rigorous performance criteria.
Founded in 1996 and headquartered in Watertown, Massachusetts, iProspect is the Original® Search Engine Marketing Firm - credited with pioneering the practice of search engine marketing. The company is one of the leading providers of internet search engine marketing services that help develop increased traffic to clients’ websites and track conversion to sales. In 2004, iProspect was named as among the top 50 fastest growing companies by America’s Inc. magazine.
Doug Flynn, CEO of Aegis Group plc said:
“Digital media will become the dominant delivery mechanism for media and advertising. Understanding the ways in which the internet can be used to effectively develop consumer interest and drive sales is the holy grail of marketers. We are very impressed with the vision of iProspect and are very keen to develop this part of the business into a true 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
