Ebiquity takes control of media practice partner

10th Jun 2011 07:54

Media and marketing insights firm Ebiquity has purchased a majority stake in its Russian media practice partner, The Joined Up Media Company (JUMC), for a maximum consideration of £1.2m."Russia is an increasingly important market to Ebiquity's existing clients and this reinforced capability will allow further cross-selling opportunities," the firm said.Ebiquity has acquired a 50.1% stake in JUMC for an initial consideration of £356,000, with the residual amount being settled over a three-year period, dependent on "certain criteria"."To acquire a majority stake in a company that is recognised locally as the market leader is a real bonus for Ebiquity and is in line with our strategy to deliver a truly global suite of services and products," said chief executive officer Michael Greenlees.---BC