Cordiant buys face-to-face marketing company

LONDON Cordiant Communications has bought the whole of Presentation Communications International in a bid to set up a new face-to-face marketing company.

The deal means Cordiant will pay for the company with 7.68 million new shares, with a further £31.2 million payable in new Cordiant shares depending on the performance of PCI and HP:ICM, the live communications agency based in London.

Cordiant wants to merge the two operations to form a new company, headed up by PCI's Richard Bamford.