Aegis Boosts Synovate with African Buy

UK marketing communications group Aegis has acquired independent research agency Steadman Group in Africa, in a move which it says will add media monitoring and strategic consulting to Synovate's existing market research expertise.

The firm provides opinion polling, MR and media monitoring for clients in more than 37 countries in Africa as well as for a number of international clients, and has gross assets of $3.3m. It was founded in 1984 in Nairobi, Kenya, and now has additional offices in Uganda, Tanzania, Zambia, Ghana, Mozambique and South Africa.

Chairman Roger Steadman says that there will be no restructuring as a result of the deal and management and staff will remain the same. He will continue to lead the company, while George Waititu will remain as MD, in charge of driving the Pan-African business. Synovate Africa CEO Albert McLean will oversee the business, and after a suitable transition, Steadman Group will take on the Synovate brand.

Steadman commented: 'When making an acquisition, Synovate looks for businesses that are well-run; add geography or specialist skills to its network; and with great teams who will fit in well with the Synovate culture. It was really a meeting of minds - we each admire the work the other does.'

Aegis says that the addition of Steadman to Synovate's existing operations in North and Southern Africa will make Synovate the largest single market research group in Africa. The acquisition will further increase Synovate's exposure to high growth markets, with the total African research market growing by 15% in 2007.

Aegis CEO Robert Lerwill said: 'This acquisition means that Synovate is now in a total of 63 markets globally. As a key emerging market for Aegis, Africa's share of the global market research spend is growing quickly and I am confident that clients and shareholders alike stand to benefit from this move.'

The Steadman Group employs over 420 full-time research specialists who are supported by more than 3,000 field interviewers. Last August, the firm partnered with online news service KenTV to provide Kenyan businessmen living abroad with investment information about their home markets.

Web sites: www.aegis.com , www.synovate.com and www.steadman-group.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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