Aegis will pay an initial 拢3.4m in cash with a deferred cash consideration payable over three years up to a maximum of 拢6.7m, subject to hitting performance targets.
Proactive Insight, which had revenues of 拢6.1m in the year to February 2004, is a full-service research business with more than 300 staff based in offices in Johannesburg, Cape Town, Durban and Pretoria.
Proactive Insight has already been working with Aegis-owned Synovate and the two recently co-pitched and won 50% of the South Africa Advertising Research Foundation, a project that has a total value of more than 拢8.5m.
Doug Flynn, chief executive of Aegis, said: "This acquisition provides Synovate with a significant footprint in South Africa where Proactive Insight is ranked among the top three largest market research companies. Proactive Insight has an excellent management team, skill base and client portfolio that perfectly complement Synovate's international network."
The company has particularly expertise in the automotive, financial and IT sectors and services a number of blue-chip multinational clients.
Earlier this year, Aegis bought US-based research business Symmetrics Marketing for 拢2.9m, with a deferred performance-related cash payment over three years up to a maximum of 拢5.5m, and it paid 拢5.2m to acquire London-based The Research Business International.
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