AIM-listed international communications and marketing group Porta Communications has acquired the entire issued share capital of the media relations and market intelligence firm Cauldron Consulting.
Porta Communications said that this was in line with its stated strategy for expanding its presence in the financial services public relations sector.
Anne McMeehan, a founding director of Cauldron, said: "This move provides Cauldron with an excellent opportunity to extend the range of services that we can deliver to our clients. We will continue to expand both our and Newgate Communications' client portfolios with particular emphasis on financial services."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commenting on the acquisition, Porta's Chief Executive, David Wright, stated: "Cauldron represents another key element in the Porta business plan. It builds on the existing expertise within Newgate Communications and increases the service offering to Cauldron's client base. The revenues acquired will flow through to Porta's bottom line since most costs will be eliminated on Cauldron's move to Newgate Communications' offices."
Porta Communications' share price was down 1.25% to 9.88p at 12:08 on Friday.
MF
