A deal has been completed which will see Media Square become one of the largest UK-based quoted marketing communications and marketing services business.
The move saw the company acquire the marketing services group of Huntsworth which has a number of subsidiary operations, which include Harrison Cowley in Birmingham and Sutton Coldfield-based Haslimann Taylor.
Media Square has said the group was paying £63 million up front but under the terms of the final agreement, it would get back some £8 million in cash which is held by the operations being acquired.
It has acquired 15 companies since the start of 2003. The deal will create an enlarged business, including PR consultancy Citigate Smarts Birmingham, turning over approximately £200 million per year and employing 1,700 staff across operations throughout Europe, the Far East, Africa and the USA.
Jeremy Middleton, chief executive of Media Square, said: "The acquisition will make Media Square one of the largest marketing and communications companies in the UK.
"It will have a significantly strengthened product offering, a broader blue chip client base, and sufficient scale to make an impact in our sector.
"We believe that the acquired businesses have significant potential under new management and we look forward to rewarding out existing and new shareholders with strong growth over the next few years."
Advisers with Grant Thornton in Birmingham completed the deal.
Partner David White said: "Media Square has undergone an impressive period of growth since floating on Aim five years ago.
"The acquisition of the marketing services group of Huntsworth continues this trend, which is proving to be an exciting time for everyone involved."