Ebiquity buys media, production cost auditor FirmDecisions.
3 August 2012 a[euro]" British media and marketing analytics provider Ebiquity plc (LON:EBQ) said today it had taken over FirmDecisions ASJP Group Ltd, the holding company of a media and production cost auditing business, for a maximum of GBP7m (USD10.9m/EUR8.9m) in cash.
The acquisition will allow Ebiquity to provide an improved transparency for the media transaction market-place along with a higher level of advertiser confidence in contractual compliance, chief executive Michael Greenlees stated.
Ebiquity is buying this group from its current and previous managers, including its co-founder and CEO Stephen Broderick, for an initial sum of GBP1m. The remaining part of the consideration is based on FirmDecisionsa[euro](tm) performance in the three fiscal year to 30 April 2014. Ebiquity said it is using its existing banking facilities to satisfy the initial amount. It estimates the transaction to be earnings accretive in the first full fiscal year.
FirmDecisions recorded an operating profit before highlighted items of some GBP300,000 on unaudited revenues of about GBP2m in the financial year to 30 June 2012. The firm, which has a staff of 20, will continue to be led by Broderick.
This is the second acquisition that was carried out by Ebiquity in 2012, after it bought media consultancy FLE Holdings Limited in March for up to GBP11m.Country: UKSector: Media, Business and Consumer ServicesTarget: FirmDecisions ASJP Group LimitedBuyer: Ebiquity plcVendor: Stephen Broderick, Other managersDeal size in USD: 10.9mType: Corporate acquisitionFinancing: Existing resources, DebtStatus: Closed
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|Publication:||M & A Navigator|
|Date:||Aug 3, 2012|
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