The acquisition, financed with new facilities provided by Royal Bank of Scotland, comprises an up-front payment of €4.2 million (£3.3 million) and an earn-out capped at €6 million (£4.7 million) equal to six times P4M’s increase in EBITDA to 31 December 2008.

OpSec Security Group CEO Mark Turnage says the acquisition represents a major step forward for the brand protection business and extends OpSec Security’s capabilities in three key areas: anti-piracy to protect unauthorised distribution of digital content; brand monitoring to provide customer and market intelligence; and channel management to analyse online sales strategies.

“P4M’s complementary product offerings – team of Internet agents, European management team and client base – make it a natural addition which will strengthen OpSec’s global brand protection strategy,” he comments.

Formed in 2000, P4M’s services enable brand owners to detect illegal distribution of digital media, identify counterfeit and grey market goods on e-commerce sites, and measure online brand image and customer satisfaction. Clients include major brands Bayer HealthCare, Fujifilm, Hewlett Packard, Lacoste, Samsung and Warner Brothers. Last year, the company generated a turnover of €1.7 million (£1.3 million) and profits after tax of €158,000 (£125,000).