CICERO

March 2007

Gyro Has Agreed To Acquire Cicero

Gyro International, the UK's leading independent full service integrated communications agency today announced that it has agreed to acquire Cicero Marketing Communications Limited, the Manchester based B2B marketing agency for an undisclosed sum. The transaction is scheduled to complete on 30 March 2007.

Cicero, which employs about 50 people, opened in Manchester in 1914 and works for both national and international clients, some of which have been with the agency for over 30 years.

The agency works across all marketing disciplines including advertising, direct marketing, digital, corporate identity, public relations, relationship marketing and events and clients include DAF Trucks, BUPA, Thomson Prometric, Sigma Aldrich, Johnston Group and Tyco.

The company has a particular specialisation in the bio-chemical, building products and construction, automotive transport and financial services sectors.

Over 95% of Cicero’s business is B2B and the company had a gross income in the year to 31 March 2007 of over £6 million

Cicero is owned by the staff of the business and Gyro will pay 60% of the consideration in cash to the three principal shareholders who are all leaving the business. The remaining 40% of the consideration will be paid in Gyro equity to the other shareholders.

Danny Turnbull, Cicero MD, said: “We have a long, distinguished and successful history as an independent agency but the time is right for us to become part of a larger group. We were determined to retain the entrepreneurial ethos of the business and Gyro has offered us the best way of achieving that.”

“It is a very exciting time to become part of Gyro and we know that it will be a big step forward for the agency, our staff and our clients.”

Gary Brine, CEO of Gyro International, commented: “We are thrilled that we have been able to conclude this deal with Cicero. It consolidates our position as the fastest growing and largest independent marketing agency in the UK.”

“The fact that all of the shareholding account directors will roll 100% of their equity investment into Gyro shows the belief that we all share in the future of Cicero as a part of Gyro International. Following the acquisition we will have over 300 staff worldwide and revenues in the region of £50 million in the coming year.”

“We are currently looking at a number of other acquisition and start-up opportunities both in the UK and internationally and 2007 is looking like being another record year for the company, and potentially our most important year to date.”

To contact our PR department please email oliverchesher@ciceropr.com