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Incepta Establishes Business/Competitive Intelligence Division | January 8 2002 |
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International marketing and communications group Incepta is establishing a global business and competitive intelligence capability via the recent acquisition of Global Intelligence and Security. Global Intelligence and Security is a recently formed business operating in the field of business intelligence, investigations and controls. GIS's executive management team includes several former senior executives of Kroll Associates. The business will trade as Citigate Global Intelligence and Security, with principal offices in New York and Los Angeles. Incepta is acquiring GIS for an initial consideration of US$3.5 million, comprising US$3.0 million (approximately £2.4 million) of cash and the issue of new ordinary shares of 1p each in Incepta to the value of US$0.5 million (approximately £0.3 million). Further consideration will be payable in cash or, at Incepta's sole discretion, a mixture of cash and shares depending on the future financial performance of GIS. The maximum total consideration, based on its financial performance over a seven year period, is US$44 million (approximately £30 million). Completion of the transaction is expected early next month. According to David Wright, Executive Chairman of Incepta, 'In the United States and around the world, the financial communications market and public relations disciplines are increasingly complemented by business and competitive intelligence services. Focussed on providing strategic advice at main board level, financial public relations companies are working alongside business and competitive intelligence consultants to refine and enhance the effectiveness of the communications process. The expertise of Global Intelligence and Security is an ideal complement to the strong Citigate financial and corporate communications international network and will help us better serve our clients.' Simple printable version of this article. Email this article to a friend.
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