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Incepta is First MR Buy for Media Square
Retail marketing services and communications holding company Media Square has agreed to buy the marketing services businesses of UK PR firm Huntsworth, including Incepta Marketing Intelligence (IMI), for £63m. Huntsworth is refocusing on PR and healthcare communications but will keep two recently purchased healthcare research businesses.
The decision to sell the Marketing Services Group, which comprises 16 companies, comes at the end of a strategic review following the Incepta merger earlier this year. Huntsworth's Chief Executive Richard Nichols, who ran Incepta until the merger, will step down next month. He will be replaced by Lord Chadlington - former Chair of the company and a former adviser to John Major.
Huntsworth also bought Context Research International and Brand Health International last month (www.mrweb.com/drno/news4434.htm ). These agencies operate under the Huntsworth Health brand, and do not form part of the Marketing Services Group.
IMI, which was formed from the merger of Citigate DVL Smith and Hauck Research Services in 2004, will become Media Square's first MR business. Media Square's CEO, Jeremy Middleton describes the acquisition as 'a huge step forward for the group in our strategy to develop a powerful marketing communications and marketing services business', stating that it will create a business with a turnover of £200m and 1,700 employees.
A further announcement detailing the funding arrangement is expected in the early part of next month. Until then, Media Square shares have been suspended at 23.5p.
The companies are online at www.mediasquare.co.uk , www.huntsworth.co.uk , and www.incepta-mi.com.
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