Marketing services group Motivcom has agreed to acquire Zibrant for an initial price of £15 million subject to shareholder approval, making it the largest event, venue finding and incentive travel business in the sector.

Motivcom already owns P&MM, AYMTM and Summersault, but sees the acquisition of the specialist venue finding, event management, event production, incentive and performance improvement and video company as a major step in its growth.

Chris Madge, Zibrant's group managing director, commented: "This is an exciting move for all of us within Zibrant as becoming part of the Motivcom group will help in the growth and development of our business, and, most importantly, it will give our clients the confidence that they're dealing with the largest and most innovative company in the industry."

Zibrant will remain an independent company within the Motivcom group, and the management structure will be unchanged, with Madge, Fay Sharpe and Chris Parnham staying on. Motivcom divisional managing director, Nigel Cooper, will become chairman of Zibrant following the completion of the acquisition and Madge, will join the Motivcom plc board.