INTERNATIONAL: Incepta buys up Sard Verbinnen

NEW YORK: Incepta Group, the international comunications and marketing services group, has acquired US financial PR agency Sard Verbinnen for an initial consideration of more than pounds 35 million.

NEW YORK: Incepta Group, the international comunications and

marketing services group, has acquired US financial PR agency Sard

Verbinnen for an initial consideration of more than pounds 35

million.



If profits for the renamed Citigate Sard Verbinnen are in line with

company expectations, the total cost of the acquisition could reach

pounds 100 million.



A tranche of new share offerings have been placed to raise the money for

the acquisition.



The eight year-old New York agency has already acted on more than 200

mergers and acquisition transactions. In 1999 it generated fee income of

almost pounds 10 million.



The buy, the largest in a series of acquisitions by Incepta, hikes the

firm’s market value to more than pounds 440 million.



David Wright, chief executive of Incepta, told PR Week: ’The inherent

commercial logic in bringing the highly experienced team with Sard

Verbinnen alongside Incepta’s operations is compelling.’



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in