- Ebiquity has taken over China Media Consulting Group Limited, the Hong Kong incorporated holding company of the CMCG group.

CMCG is being acquired for an initial cash consideration of HK$20m (approximately £1.6m) which is being satisfied from existing banking facilities.

The maximum total consideration is up to HK$85m (approximately £6.7m), payable in cash, depending on the performance of the CMCG business in the five financial years ending 30 April 2017.

The acquisition is expected to be earnings enhancing in the first full financial year.

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