19 Sep 2011 12:06
Press Release | 19 September 2011 |
Motivcom plc
("Motivcom" or "the Company")
Acquisition of Goldserve by Zibrant
Motivcom plc (AIM:MCM), a leading business services group offering marketing communications, events, motivation and incentive expertise to major blue-chip corporate clients, announces that Zibrant Limited ("Zibrant"), a major subsidiary within its Events and Communications division, today completed the acquisition of the business and assets of Goldserve ("Goldserve"), an unincorporated partnership of Emmet Hart and Richard Harrison. 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.
Zibrant has paid an initial cash consideration of £1,500,000 for the business and assets of Goldserve, which has been funded from Motivcom's net cash balances. Additional deferred consideration of up to £3,750,000 in aggregate is payable in cash subject to Goldserve generating specified levels of confirmed business leads in each of the years ending 31 December 2012, 2013 and 2014. The vendors will provide ongoing consultancy services to the Goldserve business which will operate as a separate brand within Zibrant.
The acquisition is expected to be earnings enhancing for the year ending 31 December 2012.
Commenting on the acquisition, Nigel Cooper, Executive Director for Motivcom plc and responsible for the Company's Events and Communications division, said:
"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. In addition it supports our Group strategy to invest in certain high potential product areas and allows us to consolidate our position in the market."
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For further information:
Motivcom plc | |
Sue Hocken | Tel: +44 (0) 845 053 5529 |
sue.hocken@motivcom.com | www.motivcom.com |
Grant Thornton Corporate Finance | |
Philip Secrett / Daniela Amihood | Tel: +44 (0)207 383 5100 |
philip.j.secrett@gtuk.com | www.gtuk.com |
Numis Securities Limited | |
David Poutney/James Serjeant | Tel: +44 (0)207 260 1000 |
Media enquiries:
Abchurch | |
Joanne Shears | Tel: +44 (0) 20 7398 7700 |
joanne.shears@abchurch-group.com | www.abchurch-group.com |