A Memo of Understanding (MOU) has been agreed by the companies. The precise details of the merger, which was hinted at last week are yet to be announced.

"But we're working on a very aggressive time frame," said Quickcut Europe chief operating officer Joe Jarrett.

The two firms have been working together for some time on a one-stop product for managing advertising for TV, radio and print, which should be available in Q1 2005.

The development of the new product has been driven by customers. "Primarily the clients we've been in discussion with have been global," said Jarrett. "It's all about the savings we can bring to their businesses."

"Our mission has been to relieve the advertising industry of inefficient and costly working practices," said Quickcut chief executive Grant Blanchard.

Story by Darryl Danielli