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Aegis Buys Chinese Consultancy
Synovate parent Aegis has today announced an agreement to acquire a 70% stake in Chinese marketing and events company, New Voice, whose services include brand consultancy. Aegis has the option of acquiring the remaining 30% stake from 2012 onwards.
The purchase price for the initial stake will be comprised of an initial consideration and a deferred consideration of up to a maximum of approximately £5.4 million, payable over two years and subject to rigorous performance criteria.
New Voice was established in 2001 and provides domestic and international clients with public relations, brand consultancy, marketing and event planning services. The acquisition will extend Aegis' offer into these areas, allowing it to offer both existing and potential clients integrated media, marketing and communications services.
Commenting on the acquisition, Robert Lerwill, CEO of Aegis, said: 'New Voice is an established company with a good reputation. The marketing and communications sector in China is growing at over 20% a year and this partnership will allow us to provide complementary services to our client base. We have a strong presence in Asia and this transaction is consistent with our strategy of growing our networks in the region through partnerships, acquisitions and market share gains.
The company is online at www.aegisplc.com .
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