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LONDON (Alliance News) - Ebiquity PLC said Thursday that it has acquired its Spain-based franchise partner for media auditing, Media Value SL, for an initial EUR743,000 in cash, with a maximum total consideration of up to EUR6 million.
The maximum consideration will be based on Media Value's business in the three years to end-April 2016.
Ebiquity expects the acquisition to add to earnings in its first full year.
Media Value posted an operating profit of EUR300,000 for the year to end-April 2014, on revenue of EUR2.3 million.
"MV has been operating under the Ebiquity name for some time and has played an important part in the European development of the Ebiquity group. The Iberian business has performed well and this acquisition marks another step in the development of Ebiquity's leading position in marketing and media data analytics across Europe," said Chief Executive Officer Michael Greenlees in a statement.
Shares in Ebiquity are trading down 0.1% at127.35 pence Thursday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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