Group Press Releases
Acquisition of Steadman Group makes Synovate number one in Africa
2 July 2008
Aegis Group plc ("Aegis"), the marketing communications group, today announces the acquisition of Steadman Group in Africa. Steadman has gross assets of US$3.3m.
Steadman Group (“Steadman”) is the largest independent African research agency. Founded in 1984, the business is headquartered in Nairobi, Kenya, with additional offices in Uganda, Tanzania, Zambia, Ghana, Mozambique and South Africa. It provides custom market research and media monitoring for leading local and regional African businesses as well as a number of international clients.
The addition of Steadman to Synovate’s existing operations in North and Southern Africa will make Synovate the largest single market research group in Africa. The acquisition will further increase Synovate’s exposure to high growth markets, with the total African research market growing by 15% in 2007.
Commenting on the acquisition, Robert Lerwill, ceo of Aegis,
said:
“This acquisition is in line with our stated strategy of
investing in high growth markets. It takes us to number one
in Africa, strengthening our existing presence in North and
Southern Africa and means that Synovate is now in a total of 63
markets globally. As a key emerging market for Aegis,
Africa’s share of the global market research spend is growing
quickly and I am confident that clients and shareholders alike
stand to benefit from this move.”
For further information contact:
Charlotte Elston / Hannah Bailey
Aegis Group plc
+44 (0) 20 7070 7708 / 7725
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
