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Cello Takes Majority Share in Face Group
In the UK, market research and consulting group Cello has upped its stake in youth market research and creative agency Face Group, taking its total holding to 50.7%.
Cello acquired its original 23% share of the firm in December 2007. As part of the new deal, Cello will issue 443,792 new ordinary shares of 10p each.
London-based Face Group offers a number of digital research and co-creation products to enable the direct and active involvement of consumers with brands, in order to deliver a range of insight, strategy, innovation and planning objectives.
The firm has three dedicated teams of planners, researchers, and social media specialists who work on new product development, concept generation and testing, brand insight and strategy and positioning projects. It also offers social media strategy and planning to help brands listen, understand and engage in conversations held in the social media space.
Cello CEO Mark Scott comments on the new investment: 'Taking a majority stake in Face Group is another important step in widening our digital capabilities. The products and services offered by the firm are increasingly in demand from our growing range of global blue chip client base.'
For 2008, Cello's Research and Consulting arm reported a 30% revenue increase to £66.4m. Along with Face Group, the division includes Leapfrog, 2CV, MRUK, RS Consulting and MSI.
Web sites: www.cellogroup.co.uk and www.facegroup.co.uk .
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