Summit Strategies, which generated turnover of US$1.9 million for the year ended 31 December 2005, has an impressive client base of blue-chip IT companies including IBM, HP, and Microsoft. The company has been advising the majority of its clients for more than 10 years.

The acquisition will be satisfied by a total consideration of approximately $1.2 million, which has been satisfied by the issue of 47041 ordinary shares in the company with the balance being paid in cash. The acquisition is expected to be earnings enhancing in the next financial year once the integration of the business has been completed.

All the analysts of Summit Strategies will be retained by Ovum and will be supported by Ovum's analyst, customer support and sales teams.