Cello Group, the marketing services company, has paid £1.5m to add Market Research International to its growing portfolio. Cello will pay a further performance related consideration of up to £4.5m for the company.
Kevin Steeds (pictured), chairman of the group, says the acquisition will add scale and accelerate the growth of its existing public sector practice.
Market Research International was launched in 1994 and has worked with regional and national public sector organisations including the Metropolitan Police Service and the Scottish Executive.
Cello was listed on the Alternative Investment Market in November 2004 and has an annual turnover of more than £80m. It is the parent company of advertising agencies such as The Leith Agency in Edinburgh and Farm Communications in London.