Cello's initial consideration is for £1.5m, half of which is payable in cash and the remainder in the issue of shares. Further performance-related payments up to a maximum of £4.5m will be paid over the period to 31 December 2010.
Kevin Steeds, Cello's chairman, said: "MRUK Research has an excellent reputation, particularly in the public sector research market. The addition of this very complementary business will both add scale and accelerate the growth of our existing public sector practice."
MRUK Research was founded in 1994. It has handled projects for public sector organisations including The Metropolitan Police, Yorkshire Water, the Scottish Executive and the Welsh Assembly.
For the year to 30 June 2006, MRUK Research's turnover was £4.4m and profits before tax were £300,000.
Cello has an annual turnover of about £80m and gross profits of over £50m.