NEWS23 September 2011
UK— Marketing services and print group St Ives has acquired retail and consumer insight firm Pragma in a deal worth £3.3m initially, followed by a further £2.7m if Pragma hits earnings targets.
Twickenham-based Pragma offers research and analysis to develop retail and consumer strategies for clients. It will now operate as a subsidiary of St Ives but will continue to be led by its existing team of co-founders, president Monica Lucas, chairman Roy Palmer and CEO Patrick Woodall (pictured).
Woodall said: “Our specialist expertise and knowledge of how to turn insights into profitable results combined with our rigorous analytical work fits perfectly with St Ives’ existing capabilities. It gives us a wonderful opportunity to strengthen our competitive advantage and grow the business.”
Pragma is expected to bring in £3m of revenue for the financial year ending March 31 2012, St Ives said.
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