LONDON (Alliance News) - Media and marketing analytics provider Ebiquity PLC Thursday said it has acquired the minority 15% stake in its US subsidiary, Billets America LLC, which owns and operates Ebiquity's North America media auditing and benchmarking business.
The interest is being acquired from the Chairman of Ebiquity North America, who will remain with the business following the acquisition, said the firm.
Ebiquity said the consideration payable for these interests is dependent on the performance of the subsidiary's business during the three financial years ending April 30, 2015.
Following the acquisition, the subsidiary will be merged as part of a reorganisation with Ebiquity's other US-owned businesses to facilitate a "streamlined legal and operational structure" under Alex Yoder, Chief Executive, Americas.
Ebiquity was quoted at 130.00 pence Thursday, up 0.50 pence or 0.4%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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