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Australian MR Firm Joins Synovate
Market research and media communications group Aegis has acquired Market Equity, an Australian MR business, in a deal worth up to £11.7 million. Market Equity will now become part of Synovate, the Group's MR network, which has offices in 46 countries.
The purchase price is composed of an initial consideration of £6.6 million and a deferred cash consideration, payable over three years, of up to £5.1 million subject to performance. The acquisition continues Synovate's expansion in Australia, following its purchase of retail tracking company AZTEC Information Services in March of this year.
Market Equity provides MR, marketing planning and knowledge management to a range of Australian companies and government departments. Research services include 'The Buzz' online panel, and Sceptre, its mystery shopping division. The company was formed in 1992 and is now one of Australia's largest full-service marketing and market research consultancies. It employs more than 70 full-time and 200 casual staff throughout offices in Perth, Sydney, Adelaide and Darwin. For the year ending 30 June 2005, the company achieved revenues of approximately £5.7 million.
Robert Lerwill, Aegis Group's CEO, describes Market Equity as an 'excellent business with a strong reputation'. He says the latest acquisition makes Synovate one of the top five firms in Australia, and says the company looks forward to delivering 'all the benefits of this scope to both our Australian and international clients.'
Synovate is online at www.synovate.com , and Market Equity at www.marketequity.com.au.
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