Aegis buys Irish media agency in €12m deal

BRINDLEY Advertising, which holds the lucrative Government print advertising account, has been sold to a British firm in a deal worth up to €12 million.

The sale to media group Aegis will net Basil Brindley, the agency's largest shareholder, and his family an immediate cash payment of €4m and up to €8m more if the company meets "rigorous" financial targets over the next three years.

Brindley has been in business for almost 50 years and in addition to the Government's advertising account, its clients include the Combined Universities of Ireland, the Irish Aviation Authority, Tattersalls Ireland, The Financial Regulator, the Broadcasting Commission of Ireland and the Football Association of Ireland.