Group Press Releases
Aegis Acquires Italian Research Agency – AMT
07 June 2005
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group – announced today that it has signed an agreement to acquire the Italian market research company, AMT. It is expected that the acquisition will complete before the end of June 2005 and on completion AMT will become part of Synovate, Aegis's fast growing global research network.
AMT is based in Italy and has sales offices in Rome and Milan together with an operation centre in Bari. The company has an excellent reputation for delivering high quality quantitative and qualitative ad hoc research to a number of blue chip marketers.
The purchase price is composed of an initial consideration of € 1.6 million payable in cash on completion. There is also deferred cash consideration payable over 3 years, up to a maximum of € 3.2 million, subject to rigorous performance criteria. For the year ended 31 December 2004, AMT had revenues of approximately € 4.5 million.
Aegis Group CEO Robert Lerwill said:
“The acquisition of AMT is consistent with our strategy of investing in the development of strong global network. The acquisition of AMT means that Synovate can now offer our clients a full service capability in the Italian market. It also greatly benefits AMT's clients as the agency's integration into the Synovate network will now allow it to provide services on an international basis. I look forward to a successful future working together”.
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
