The deal, worth £2.65m in total, is made up of an initial payment of £874,000 in cash and £432,000 in shares combining to make an initial payment of £1.306m.
This means that 975, 169 new ordinary shares will be issued on to AIM with February 9 the expected date for their entry.
Further payments of cash and shares worth £240,000 are expected to be made on the deal’s anniversary over the next three years - 40% of these payments will be in shares.
Finally, there will be a last payment of £624,00 which is dependent on targets being met, 50% of this will be made in shares.
LeapFrog, which has clients such as, GSK, Pfizer, MSD, Roche and Novartis, was established in 2001.
It provides a range of medical education programmes to the healthcare industry, promotional aids for sales representatives and also initiates PR campaigns aimed at healthcare professionals.
Last year, the company reported audited turnover of £1.5m and pre-tax profits of £390,000.
Net assets in the company amount to approximately £250,000.
The company’s founders, Tim Schofield and Gail Rowe, are to remain with the company after the acquisition.
Charles Phillpot, chief executive of the Adventis Group, said: “We will now be one of the few companies in the industry to offer a full service marketing capability and the ability to handle larger and more complex campaigns for clients.
“We are now among the top three players in two of our three chosen market sectors.”
© Crimson Business Ltd. 2007