Majestic Completes Indian Acquisition

In India, Majestic Research Services and Solutions has completed its acquisition of New Delhi-based Emtee Research and Consultants Pte Ltd, with the purchase of the remaining 30 percent stake for an undisclosed sum.

Emtee offers a range of digital MR services aimed at the modern trade audit sector, and will now become a wholly owned subsidiary of Majestic. It is almost exactly a year since MRSS India - which is the country's first and only listed MR firm - acquired a majority stake in Emtee.

In November, MRSS India announced a sharp rise in revenue, with the half-yearly figure for the period ended September 30th matching that for the previous full year at Rs 54m ($US 0.81m).

Chairman Raj Sharma (pictured) said of the latest development: 'Exponential growth for MRSS will be driven both organically and by acquisitions, this just sets the tone for the initiatives we are going to take in this direction in the coming year'. MD Sarang Panchal says MR spend in the Modern Trade vertical has been surging, and adds: 'this is an advanced offering that syncs with the gap in our industry'.

Web sites: www.mrssindia.com and www.majesticmrss.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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