The group announced the deal to the markets this morning, stating it had acquired the entire issued share capital of the media relations and market intelligence firm.
Porta, owner of Newgate Communications and Newgate Threadneedle, said in a statement that the acquisition is in line with its previously stated strategy of expanding its presence in financial services PR.
Since its inception in 2002, Jain Castiau and Anne McMeehan, founder directors of Cauldron, have worked with clients across the financial services sector, with a particular focus on fund management.
Existing clients include BNP Paribas, Quilter, TISA (Tax Incentivised Savings Association) and Witan Investment Services.
Commenting on the acquisition, Porta's chief executive, David Wright, said: ‘Cauldron represents another key element in the Porta business plan. It builds on the existing expertise within Newgate Communications and increases the service offering to Cauldron's client base.
‘The revenues acquired will flow through to Porta's bottom line since most costs will be eliminated on Cauldron's move to Newgate Communications' offices.'
Anne McMeehan of Cauldron added: ‘This move provides Cauldron with an excellent opportunity to extend the range of services that we can deliver to our clients. We will continue to expand both our and Newgate Communications' client portfolios with particular emphasis on financial services.’