Group Press Releases
Synovate Boosts Latin American Coverage with Acquisition of CIMA Group
21 January 2008
Aegis Group plc ("Aegis"), the marketing communications group, today announces the acquisition of CIMA Group ("CIMA"), a multi-country market research group in Latin America. CIMA has gross assets of €2.0m.
CIMA was founded in Chile in 1994, and is headquartered in Santiago, Chile. Today it is a leading independent market research business with full service offices in Colombia, Peru, Ecuador, Bolivia and Costa Rica and relationships in place with a number of Synovate's global clients. With existing Synovate offices in Brazil, Argentina and Mexico, the acquisition of CIMA gives Synovate comprehensive coverage across all major Latin American markets.
The Latin American region has started to attract significant investment from global consumer brands in recent years, making it one of the fastest growing areas for market research. In 2006, Latin America represented 5% of the global market, with year-on-year growth of 17%.
Commenting on the acquisition, Robert Lerwill, CEO of Aegis, said:
"CIMA Group will transform Synovate's Latin America footprint in one go. It will give Synovate full coverage across all key territories and the opportunity to become a major player in a fast-growing region. This is an attractive business with a like-minded management team in a high-growth market. It will also support Synovate's ambition to expand operational capacity in low cost centres."
For further information contact:
Charlotte Elston
Aegis Group plc
+44 (0) 20 7070 7708
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
