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Aegis Acquires INNER Strategic Research
Aegis Group has just acquired INNER Strategic Research S.A. Based in Madrid, INNER is one of the largest independent market research agencies in Spain with international offices in Portugal, Africa and Latin America.
An initial consideration of £3.0 million is payable in cash on completion; there is also deferred cash consideration, subject to challenging performance criteria, payable over the next three years. INNER had revenues of approximately £5.7 million during the year ended 31 December 2001.
The acquisition of INNER continues the expansion of Synovate, Aegis's market research network. Although Aegis is a relative newcomer to the market research sector, the business now accounts for one third of the group's turnover and Synovate already ranks in the top ten of global custom research businesses.
Commenting on the announcement, Doug Flynn, Chief Executive of Aegis said, 'INNER is a fine market research company and it's specialist skills and excellent reputation will further enhance Synovate's global development. In Europe, Synovate continues to grow rapidly and the businesses we are acquiring are winning significant new business both as a result of joining our international network and from having access to our portfolio of unique products and tools.'
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