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Optimisa Buys Media Analysis Firm
AIM-listed marketing services holding company Optimisa PLC has agreed to acquire Report International Ltd (RIL) for up to £2.2m. Optimisa is already the owner of UK research agency Andrew Irving Associates (AIA).
The group, which bought AIA in October last year (www.mrweb.com/drno/news5995.htm ), is also the parent of business intelligence firms kae: marketing intelligence and nxtMOVE.
RIL, whose accounts for the year ended 30 April 2006 showed turnover of £1.8m and profit before tax of £70,000, provides content analysis of national and international media output. The analysis supports product and market research, brand equity modelling, corporate reputation management and PR campaign planning.
Optimisa's directors flagged up complemetary product offerings, cross-selling opportunities and potential for shared resources as drivers for the decision.
Payment will consist of an initial cash sum likely to be around £260,000, and further cash consideration of up to 1.25 times the firm's pre-tax profits for the eight months ending 31 December 2007. A second earn out calculation covering the period up to 31 December 2009 will bring the maximum consideration to £2.2m.
Optimisa reported healthy results at the end of March (www.mrweb.com/drno/news6619.htm ) and said it was seeking further acquisitions. The Group is online at www.optimisaplc.com .
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