Cello Group, the market research and consultancy group, has acquired a healthcare marketing consultancy business that boasts blue-chip pharmaceutical clients such as Pfizer and Sanofi Aventis.
The group paid around £5.7m for MSI Consultancy but the payment could stretch to £13.2m depending on performance. Cello chairman Kevin Steeds says: “The skill base of MSI complements our established international market research business, Insight.”
Cello Group, which owns Farm Communications and Edinburgh-based The Leith Agency, last week reported strong financial figures on the back of growth across its core market research business (MW March 20).
In the year to 31 May 2006, MSI had a turnover of £2.9m, with pre-tax profits of £0.3m.