CIMA, which was founded in Chile in 1994 and is headquartered in Santiago, has operations across the region in Colombia, Peru, Ecuador, Bolivia and Costa Rica.
It has gross assets of €2m and already has relationships in place with a number of Synovate's global clients.
It will combine with existing Synovate's offices in the region, ocated in Brazil, Argentina and Mexico, to give the Aegis-owned business far better spread across all major Latin American markets at a time when the area is increasingly the focus of significant investment from global consumer brands.
In 2006 alone, Latin America represented 5% of the global market, with year-on-year growth of 17%.
Robert Lerwill, CEO of Aegis, said: "CIMA Group will transform Synovate's Latin America footprint in one go. It will give Synovate full coverage across all key territories and the opportunity to become a major player in a fast-growing region. This is an attractive business with a like-minded management team in a high-growth market. It will also support Synovate's ambition to expand operational capacity in low cost centres."
The acquisition follows that of US market research firm Oncology earlier this month, which is to become part of Synovate Healthcare's existing oncology portfolio.