Group Press Releases
Aegis to Acquire US Internet Consulting and Development Firm - Molecular
26 April 2005
Aegis Group plc ("Aegis" or "Group") - the media communications and market research group – announced today that it has signed an agreement to acquire US internet technology consulting firm Molecular Inc. In this transaction Aegis will acquire 100% of the equity. It is expected that the acquisition will complete before the end of May 2005 and on completion Molecular will become part of Isobar, Aegis’s fast growing digital network.
The purchase price will be composed of a total consideration of up to US$ 31.5m payable over two years and subject to rigorous performance criteria.
Founded in 1994 as Tvisions, Molecular has been a pioneer in the e-business arena, developing some of the industry's first Internet-based solutions for advanced, secure transactions. The company delivers a wide range of services including business process, digital strategy, and internet development for clients including Fidelity Investments, The Financial Times, Genzyme Genetics, Gillette, Hewlett-Packard, JP Morgan and Staples. In its most recent study of the web development sector in the US Forrester ranked Molecular at the forefront of the industry.
Robert Lerwill, CEO of Aegis Group plc said:
“The internet is playing a central role in today’s marketing programs and through Isobar we are building a global network that delivers excellence in every aspect of digital marketing. With the acquisition of Molecular our clients will now have access to one of the leading web development and consulting businesses in the U.S. with its powerful proprietary technology for eCommerce.”
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
