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
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 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.’