Midlands communication specialist Summersault has been snapped up for a sum which could rise above £2 million.
The Leamington Spa operation - which specialises in internal corporate work for large blue chip businesses - has been bought by Milton Keynes-based P&MM.
A spokesman said P&MM had paid an initial cash consideration of £1.5 million for the entire issued share capital of Summersault. However, additional deferred cash of up to £750,000 was payable subject to Summersault achieving specified levels of earning.
Summersault, which employs 35 people, had net assets of £428,000 and made a pretax profit of £418,000 for the year ended November 30, 2004.
Colin Lloyd, chairman of P&MM, said: "This acquisition extends our involvement in the arena of employee motivation and is complementary to our existing Human Resources Benefits products and P&MM's Performance Improvement division. Summersault will be maintained as a separate brand, based in Leamington Spa but we expect the businesses to work closely together."
P&MM also intends to change its name to Motivcom, with shareholder consent being sought in the next few weeks.
The company has three operational divisions - motivation and incentive programmes; incentive travel, conference and event management and sales promotion and HR benefits products.
* A London-based TV group, jointly founded by Bob Geldof, has bought drama production company Cottage Industry Productions for £74,647.
Ten Alps has launched Ten Alps Drama, a new division formed through the acquisition by its subsidiary Ten Alps TV.
AIM-listed Ten Alps, cofounded in 1999 by Geldof and Alex Connock, owns a number of production companies, including Ten Alps Midlands which employs people in Derby.
