CLL.L Regulatory News (CLL)

29 Jan 2007 07:01

Cello Group plc29 January 2007 29 January 2007 CELLO EXTENDS ITS ON-LINE MARKET RESEARCH OFFERING Acquires controlling interest in Rosenblatt and Digital People Online Cello Group plc (Cello, AIM: CLL), the market research and consulting group hasacquired a controlling interest in Rosenblatt Limited ("Rosenblatt") and DigitalPeople Online Limited ("Digital People") for a total maximum consideration ofapproximately £3m in cash, loan notes and new ordinary shares. Digital People is an online research business and Rosenblatt is a qualitativemarket research agency. Rosenblatt was established in 1995 by Jon Cohen andacts for a number of blue chip clients including BBC, Channel 4, Coors,Mitchells & Butler and UKTV. Cello has acquired 75% of the issued share capital of Rosenblatt for aconsideration of £322,000 in cash and the issue of 119,426 new ordinary shares.The remaining 25% is the subject of put and call options exercisable in 2009.The option consideration is payable in a mixture of cash, loan notes and newordinary shares at Cello's discretion. Cello has also acquired 51% of the issued share capital of Digital People. Theremaining 49% is the subject of a put option whereby Cello can be required topurchase the 49% interest at any time in the period to March 2012. The optionconsideration is payable in a mixture of cash, loan notes and new ordinaryshares at Cello's discretion. Application has been made to the London Stock Exchange for the new shares to beadmitted to AIM and it is expected that admission will take place by 2 February2007. Kevin Steeds, Cello Chairman, said: "Rosenblatt with its excellent client base, adds more depth to our consumermarket research offer whilst Digital People further reinforces our on linecapability. Both these operations fit well into our strategy of building aleading position in the research market." Enquiries: Cello GroupKevin Steeds, Executive Chairman 020 7812 8460 College HillAdrian Duffield/Ben Way 020 7457 2020 Notes to Editors (www.cellogroup.co.uk) Cello is a market research and consulting group that listed on AIM in November2004. The Group's strategy is to create value for shareholders by building aportfolio of research and consulting businesses capable of advising blue chipclients globally. Cello has annualised turnover of approx £70 million, grossprofits of approx £40 million and employs over 500 professional staff. This information is provided by RNS The company news service from the London Stock Exchange