Motivcom grows events division with £5.25m acquisition

Zibrant, a subsidiary in the Events and Communications division of business services group Motivcom, has bought marketing solutions company Goldserve for £5.25m in cash."Goldserve operates more than 2,000 global lead and enquiry websites, generating in excess of 10,000 new event enquiries per year which will provide Zibrant with a specialist online marketing solution creating an important new business acquisition channel," the statement said.Zibrant will pay £1.5m upfront and an additional £3.75m will be paid dependent on performance levels over the next three years. The acquisition should be earnings enhancing next year."This is an excellent opportunity to strengthen our position in the global strategic meetings sector by acquiring a specialist lead generation business. Goldserve's strength in the conference and event marketing environment will grow and diversify the market in which we operate," said Motivcom's executive director Nigel Cooper.Shares were trading 1.6% down at 92.5p by 13:59.BC