Acquisition

RNS Number : 1876Q

Ebiquity PLC

14 October 2011

 



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. [phone]
Michael Greenlees, Chief Executive Officer
Andrew Beach, Chief Financial Officer
Numis Securities Limited	Tel. [phone]
Nick Westlake (Financial Adviser and Nominated Adviser)
David Poutney (Corporate Broking)
College Hill	Tel. [phone]
Matthew Smallwood
Jamie Ramsay

 

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