The £1.2 million deal is to be satisfied by an initial £356,00 payment upfront, with the remaining depending upon certain criteria being met.

As part of the deal, the purchase also includes a majority stake in JUMC’s Russian company, a joint venture with the The Decision Group.

CEO of Ebiquity, Michael Greenless, says that Russia is an increasingly important market.

He adds: ‘To acquire a majority stake in a company that is recognised locally as the market leader is a real bonus for Ebiquity and is in line with our strategy to deliver a truly global suite of services and products.’

According to a statement the buy extends Ebiquity’s ‘owned office presence’ into a new market. Additionally the deal adds the ‘most experienced team’ in the Russian market to the Ebiquity businesses.

The acquisition is the second for Ebiquity in the past month following its £10 million purchase of TCRG Holdings, the holding company of Echo Research.

The deal was for an analysis, media measurement and stakeholder research business.

In January Ebiquity posted revenues of £20.5 million, an increase of 122 per cent, for the six months ended 31 October.