Progressive Digital Media Buys CurrentAnalysis

UK-based business information and services firm Progressive Digital Media Group has acquired CurrentAnalysis; a consultancy which provides market intelligence to IT and telecoms professionals. The cash deal is valued at $19.6m payable on completion.

CurrentAnalysis, which is headquartered in Washington DC and has additional offices in London and Singapore, has a team of more than 45 analysts who provide subscription-based information to help clients in the ICT industry understand markets and competitors, identify opportunities and drive growth. For the financial year ended 31st December 2013, the company reported revenues of around $13.0m.

At the end of last year, Progressive acquired ICT market analysis specialist Pyramid Research for $3.3m in cash, and the firm says the latest acquisition supports its strategy of expanding its subscription-based services into global markets.

Simon Pyper (pictured), CEO of Progressive, said: 'The acquisition of CurrentAnalysis satisfies all of our acquisition criteria, providing subscription-based business information services to blue chip companies operating in a global sector. Additionally, CurrentAnalysis augments our existing platform and significantly increases our footprint in the key North American market.'

Web sites: www.progressivedigitalmedia.com and www.currentanalysis.com .