Ebiquity, the media monitoring data and consulting provider, announced the acquisition of Echo Research from TCRG Holdings Ltd (the holding company of Echo Research) for an initial cash consideration of £3.5 million together with deferred consideration of up to £6.5 million, of which £6.2 million is performance based. Funding is by way of a £2.6 million placing at 92p per share (in exchange for shares representing 4.8% of the enlarged share capital), and increasing the bank debt facility to £5 million.

Echo is a leading global reputation analysis, media measurement and stakeholder research specialist with offices in London, New York, Paris and Singapore - its clients include over 60 global blue chip companies. For the year to March 2011, Echo achieved sales of £5.0 million and adjusted operating profit of £500,000.

Ebiquity also reported in the May update that final results to April 2011 are anticipated to be comfortably in line with market expectations.

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