Group Press Releases
Aegis Acquires Australian Research Agency - Market Equity
05 September 2005
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group - announced today the acquisition of Market Equity Pty Ltd (Market Equity), an Australian market research business. Market Equity will now become part of Synovate, the Group's international market research network.
The purchase price is composed of an initial consideration of £6.6 million, payable in cash on completion. There is also deferred cash consideration payable over 3 years, up to a maximum of £5.1 million, subject to rigorous performance criteria. For the year ended 30 June 2005, Market Equity had revenues of approximately £5.7 million.
Headquartered in Perth and with offices in Sydney, Darwin and Adelaide, Market Equity is a business information consultancy with operations covering market research, marketing planning and knowledge management. Synovate will move quickly to integrate Market Equity into its global network, giving existing clients in Australia immediate access to all Synovate research solutions and to its network of offices in 46 countries around the world.
Robert Lerwill, CEO of Aegis Group plc said:
"The acquisition of Market Equity continues Synovate's expansion in the Australian market following our acquisition of retail tracking company AZTEC Information Services in March of this year. Within a year Synovate has gone from no presence in Australia to becoming a top five firm."
"Market Equity is an excellent business with a strong reputation. The purchase of Market Equity gives Synovate comprehensive coverage within Australia and we look forward to delivering all the benefits of this scope to both our Australian and international clients."
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
