Chime pays £5m for financial services agency

campaignlive.co.uk, Wednesday, 15 December 1999 12:00AM

– Chime Communications has agreed to acquire financial services specialist, Teamspirit, for £5 million.

– Chime Communications has agreed to acquire financial services specialist, Teamspirit, for £5 million.

Initially £2.8 million will be paid in cash and £200,000, by the issue of new ordinary shares in Chime. A deferred payment of up to £2 million will be paid dependent on Teamspirit's performance up to April 30 2003.

In the year to April 30 Teamspirit made a pre tax profit of £800,000 on a turnover of £3.1 million.

Teamspirit will become part of Bell Pottinger Communications, which is headed by chief executive Chris Satterthwaite and includes HHCL & Partners.



This article was first published on campaignlive.co.uk

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