Ovum is to acquire Orbys Consulting, the London-based sourcing strategy and supplier selection consultancy, for up to £3.6m. The acquisition is Ovum's second since its IPO in March this year and will consist of a maximum of £3.26m in cash with the remainder in shares. £1.5m of this is subject to agreed revenue targets for the period to August 2007. Established in 1993, Orbys' client base of blue chip multinationals includes Deutsche Bank, Sainsburys and the Metropolitan Police. Ovum made the acquisition as part of its strategy to move into the advisory market for large user organisations, and is looking to acquire other specialist companies in this area. "I am delighted to be announcing our second acquisition in the past six months. Orbys is a European leader in outsourcing with a reputation for pragmatic advice and a first class client list. This acquisition provides excellent synergies and sets us on the path of establishing Ovum as a key advisor at the critical juncture between vendors and buyers." said Chris Dines, CEO of Ovum.