Ebiquity plc Acquires Outstanding Minority Interest in US Subsidiary
Following the appointment of Alex Yoder to the newly-created position of Chief Executive Officer, Americas, and as part of a reorganisation of its US businesses (the "Reorganisation"), Ebiquity plc is pleased to announce the acquisition (the "Acquisition") of the minority 15% membership interests in its US subsidiary, Billetts America LLC (the "Subsidiary"). The Subsidiary owns and operates Ebiquity's North America media auditing and benchmarking business.
The interests are being acquired from the Chairman, Ebiquity North America who will remain with the business following the Acquisition. The consideration payable for these interests is dependent on the performance of the Subsidiary's business during the three financial years ending 30 April 2015.
Following the Acquisition, the Subsidiary will be merged as part of the Reorganisation with Ebiquity's other wholly-owned US businesses to facilitate a streamlined legal and operational structure under Alex Yoder.