Last close As at 05/08/2026
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Market capitalisation
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Research: TMT
Ebiquity has announced that it has acquired Digital Decisions, strengthening its capabilities in digital media monitoring and consultancy. Digital Decisions is a comparative newcomer, trading for less than three years, during which it has built an impressive client roster. It is headed up (and majority owned) by Ruben Schreurs, who will be staying with the combined group and leading the expansion drive into the US. The initial consideration is €0.7m in cash, with further payments subject to performance criteria through to FY22. Bringing useful additional technical capability, this looks to be a sensible, complementary purchase.
Ebiquity |
Strong digital decision to start 2020 |
Acquisition |
Media |
8 January 2020 |
Share price performance
Business description
Analysts
Ebiquity is a research client of Edison Investment Research Limited |
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Ebiquity has announced that it has acquired Digital Decisions, strengthening its capabilities in digital media monitoring and consultancy. Digital Decisions is a comparative newcomer, trading for less than three years, during which it has built an impressive client roster. It is headed up (and majority owned) by Ruben Schreurs, who will be staying with the combined group and leading the expansion drive into the US. The initial consideration is €0.7m in cash, with further payments subject to performance criteria through to FY22. Bringing useful additional technical capability, this looks to be a sensible, complementary purchase.
Year end |
Revenue (£m) |
PBT* |
EPS* |
DPS |
P/E |
Yield |
12/17 |
64.2 |
7.9 |
6.2 |
0.71 |
6.0 |
1.9 |
12/18 |
69.4 |
5.2 |
3.5 |
0.71 |
10.6 |
1.9 |
12/19e |
71.0 |
5.3 |
4.0 |
0.85 |
9.3 |
2.3 |
12/20e |
72.3 |
6.5 |
5.0 |
0.95 |
7.4 |
2.6 |
Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.
Ebiquity has a very strong position and reputation in media and marketing consultancy, independent of the agencies. Digital Decisions has a similar focus, based across digital procurement, media and adtech, with clients including Heineken and Pepsi. It will also bring to the group additional technical skills in automated data collection and dashboards. Based in the Netherlands, Digital Decisions’ revenue for the 18 months to December 2018 was €0.42m, earning a PBT for that period of €0.12m. Being part of Ebiquity should enable Digital Decisions to accelerate its growth and scale. The RNS announcement contains no new information on Ebiquity’s trading performance and, given the relatively small scale of the acquisition, we are not making any adjustments to our forecasts at this stage.
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Research: Real Estate
On 15 December, Consus announced that Ado Properties had acquired a c 22% stake in the company for €294m in cash. The purchase price of €9.72 per share represents a c 58% premium to the closing price of €6.15 on 13 December. As a result, Ado’s current holding is c 25%, with a call option for a further 51% stake. On exercise of the option, Ado intends to make an exchange offer for the remaining shares. The announcement follows the agreed merger of Ado and Adler Real Estate and will make it the third-largest listed residential company in Germany. Moreover, Ado and Consus signed a strategic co-operation agreement on joint development projects.