Acquisition

RNS Number : 2025I

Ebiquity PLC

10 June 2011

 



Ebiquity Plc

("Ebiquity")

Ebiquity acquires majority stake in The Joined Up Media Company

Ebiquity announces that it has acquired a majority stake (50.1%) in its Russian media practice partner, The Joined Up Media Company ("JUMC"), for a maximum consideration of £1.2m in cash, with an initial £356,000 paid upfront and the balance settled over three years depending on certain criteria being met. The acquisition also includes a majority stake in JUMC's Russian company, which is a joint venture with The Decision Group, founded and led by Vladimir Rass, the former CEO of MindShare Russia.

JUMC is currently Ebiquity's media practice partner in Russia, Central and Eastern Europe and surrounding areas. JUMC is the market leader in the Russian media auditing market, with close to 50% market share and is acknowledged as the strongest team in this rapidly expanding market. JUMC has offices in London and Moscow and services global blue chip clients in over 20 countries.

The acquisition extends Ebiquity's owned office presence into a new market and adds the most experienced team in the Russian market to the Ebiquity offering. Russia is an increasingly important market to Ebiquity's existing clients and this reinforced capability will allow further cross-selling opportunities.

Glyn Harper, founder of JUMC, Vladimir Rass, and their teams will be joining Ebiquity.

Michael Greenlees, CEO of Ebiquity, said:

"Russia is an increasingly important market to us and our clients. To acquire a majority stake in a company that is recognised locally as the market leader is a real bonus for Ebiquity and is in line with our strategy to deliver a truly global suite of services and products. We look forward to welcoming Glyn, Vladimir and their teams to Ebiquity."

10 June 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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