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Optimisa Acquisition of Andrew Irving Associates - New deal expands marketing services group and provides strong base from which to expand further into the Public Sector
Optimisa Acquisition of Andrew Irving Associates

 

PRZOOM - /newswire/ - London, United Kingdom, 2006/10/02 - New deal expands marketing services group and provides strong base from which to expand further into the Public Sector. EPIC: OPS

   
 
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Optimisa plc announces the acquisition of Andrew Irving Associates (AIA) for a total consideration of up to £317k. An upfront payment of £187k will be satisfied by the issue of 17,701 shares and £10,700 in cash. The remaining £130k will be paid in cash and shares but is dependent on performance. AIA had sales in excess of £700k and profits before tax of £47K in the year to end April 2006 and a net asset value of c£175k. This follows the add-on acquisition of nxtMOVE Corporation in March 2006 for c£1million and is expected to be significantly earnings enhancing in 2007.

AIA provides both qualitative and quantitative market research, primarily for the UK public sector. It will give the Group a more cost-effective service capability for small projects in the UK that are currently outsourced, whilst also providing a long-established and well respected base from which to expand further into the public sector.

AIA will continue to operate much as before but under the umbrella of Optimisa plc, which will provide the administrative and operational support necessary to grow the business rapidly from its current level. As a sign of commitment from the management team of AIA, most of the upfront payment has been taken in shares in Optimisa plc rather than in cash.

Simon Dannatt, Chief Executive of Optimisa, says of the deal: “After our strong interim results announced last month, we continue to search for earnings-enhancing acquisitions to expand our scale and scope. We are extremely pleased to welcome our latest acquisition, AIA. With their innovative approach to market research, they increase our ability to meet all of our clients’ needs within the Group, whilst significantly improving our reach into the public sector. All in all, an exciting development.”

Optimisa plc is an AIM-listed holding company in the marketing services sector (EPIC: OPS). Optimisa Group is positioned in the space between the large management consultancies and the traditional market research, market intelligence and business intelligence providers. The Group companies share a common desire to help their clients be more successful by delivering evidence-based commercial advice focused on customers, markets, competitors and channels. This advice allows clients to identify and capitalise on market opportunities, avoid or counter market threats and stay ahead of competitors.

 
 
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Optimisa Acquisition of Andrew Irving Associates

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Contact: Jonathan Waters - Optimisaplc.com 
+44(0)20 7960 3300 mail[.]optimisaplc.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Optimisa plc securities in any jurisdiction including any other companies listed or named in this release.

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