��������pk10

Marketing services group Motivcom has acquired event, venue and incentive group Zibrant for an initial consideration of £15m subject to shareholder approval.

Of this, £11.25m will be paid in cash, with the existing shareholders and management receiving £3.75m in Motivcom shares.

The management structure at Zibrant will remain unchanged, with managing director Chris Madge, sales and marketing director Fay Sharpe and event and communications director Chris Parnham heading up the management team. Motivcom divisional managing director Nigel Cooper will become chairman of Zibrant and Madge will join the Motivcom board.

Cooper said: “The acquisition of Zibrant has strengthened Motivcom’s position as the leader in the industry. With Zibrant joining Motivcom we will become the largest event, venue finding and incentive travel business in the sector. This is the most significant deal in the industry’s history and a major step forward as we continue to build Motivcom both organically and by acquisition.”

Madge added: “This is an exciting move for all of us within Zibrant as becoming part of the Motivcom group will help in the growth and development of our business and, most importantly, it will give our clients the confidence that they’re dealing with the largest and most innovative company in the industry.”

Zibrant reported a profit before tax of £1.5m in 2006 and employs 200 people at its offices in Derby, Godalming and Canterbury. Zibrant encompasses IBR, Illico, McGarvey Russell, MRM and Rand, offering a total event solution for corporate buyers.

Motivcom already owns agencies P&MM, AYMTM and Summersault.