Last checked at 14 Oct 2011 07:00
Ebiquity Plc
("Ebiquity")
Acquisition of Faulkner Media Management Pty Limited
Ebiquity announces that it has acquired the entire share capital of Faulkner Media Management Pty Limited ("FMM"), the leading media analytics consultancy business in Australia. The maximum potential consideration will be A$5.9m (approximately £3.7m) with the initial consideration of A$4m (£2.5m) paid on completion and the balance dependent on specific performance criteria over the period to 30 April 2014. The initial consideration is funded from existing debt facilities.
The acquisition of FMM extends Ebiquity's international capabilities and strengthens its offering in Australia and South East Asia. Asia Pacific is becoming an increasingly important region for global advertisers and the Company views it as an area of significant future potential.
FMM, founded by Eric Faulkner in 1998, has turnover of A$4.9m (£3.1m) from over 60 clients and employs 25 people. Eric Faulkner, Chris Graham (FMM's General Manager), and the rest of the market leading team will be joining Ebiquity.
The acquisition will be earnings enhancing in the first full financial year following completion.
Michael Greenlees, CEO of Ebiquity, said:
"Today's acquisition is another important step for Ebiquity and strengthens our position as a leading provider of global media research and data analytics. The Asian and Pacific region is a complex and growing market and FMM already works with a number of significant clients across the region."
14 October 2011
Enquiries:
Ebiquity Plc | Tel. +44 (0)20 7650 9600 |
Michael Greenlees, Chief Executive Officer |
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Andrew Beach, Chief Financial Officer |
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Numis Securities Limited | Tel. +44 (0)20 7260 1000 |
Nick Westlake (Financial Adviser and Nominated Adviser) |
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David Poutney (Corporate Broking) |
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College Hill | Tel. +44 (0)20 7457 2020 |
Matthew Smallwood |
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Jamie Ramsay |
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