Media Square sells market research firms

CHESHIRE-based quoted marketing group Media Square is selling part of its market research arm Illuminas.

Rival market research business IQ Holdings is planning to buy three of Illuminas’s businesses in a £1.5m cash and shares deal.

Subject to shareholder approval it will take control of Viewpoint Field and Viewpoint Studios, which provide specialist research services, and online data collection agency The Wire.

Media Square will receive £750,000 cash plus shares worth £250,000 and a deferred consideration of £500,000 over three years. The deal is expected to complete in January.

The businesses being sold are based in Surrey and London but Media Square has its registered office near Macclesfield which is also home to its business-to-business marketing agency IAS.

Media Square was founded in 2000 as a cash shell and has grown rapidly by acquisition. It now has around 1,000 employees and 700 clients with operations spanning Europe, Asia, Africa and America.

In the six months to August 31 the business made a pre-tax profit of £900,000 on sales of £33.1m.