Aegis pays £7m for research firm

LONDON - Aegis Group continues to grow its Aegis Research network with the acquisition of market research firm Sample Surveys for 拢7.2m.

Aegis, which owns the Carat media-buying network, is paying 拢5.4m in cash as well as a deferred payment of up to 拢1.8m over the next three years, depending on Sample Surveys' performance.

Last year, Sample Surveys had revenues of around 拢6.6m.

Aegis Research is set to rebrand as Synovate in January 2003, and its parent company has been expanding its global coverage with acquisitions including Market&More, Pegram Walters, MEMRB Custom Research and Demoscopie.

Doug Flynn, chief executive of Aegis, said: "Aegis Research already has the second-largest custom research network in Asia-Pacific and the fourth largest in the US and our aim is to build a significant presence in Europe. This acquisition significantly strengthens our service capabilities and client base in the UK."

Shares in Aegis were trading up by 7% this morning, at 72.75p. The company is due to release its interim results on September 10.

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