London-based Ledbury Research provides advice to luxury goods and financial brands such as Gucci, UBS and Mastercard. It will become part of Chime's Opinion Leader Research Group.
Chime, the marketing services group run by Lord Tim Bell, paid 拢20,000 in cash with the remaining 拢100,000 representing a subscription for new shares in Ledbury.
A deferred consideration of 60,000 new shares will be payable in a year if the two vendors remain at Ledbury, with 100,000 new shares issued if performance targets are met within four years.
Earlier this month, Chime sold its remaining 51% stake in advertising agency HHCL United to Sir Martin Sorrell's WPP Group, which then rechristened it United. It is using some of the funds from the 拢2.75m sale to fund a share buyback programme.
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