Bilendi Buys Belgian Panel Firm iVOX

Digital MR services firm Bilendi Group has paid an undisclosed cash sum to acquire Leuven, Belgium-based panel specialist iVOX.

Bilendi says will spread the use of iVOX's innovative technologies throughout the group - especially in mobile surveys and digital ad impact measures - as it aims to create 'one of the European leaders of digital services for market research through expansion and strong development'. The acquisition gives it a presence in twelve countries and more than 2.2 million panellists. Combined sales for the two firms in 2016 were EUR 25m.

iVOX was launched in 2004 and runs a large access panel - 150,000 active members covering Flanders, Wallonia and the Brussels region. Its team of sixteen includes 'experts from the University of Leuven', and the firm turned over EUR 2.3m last year (unaudited) with an operating profit of EUR 0.35m. Founder Steven Deketelaere remains a consultant for the company whle MD Hans Verhoeven will manage the integration with Bilendi and continue to develop the business. The two said in a statement: 'As specialists in digital services for market research, we are proud to join the Bilendi Group. Ivox will benefit from access to all Bilendi's panels and to the Group's technologies that perfectly meet the expectations of our clients'.

Bilendi Chairman and CEO Marc Bidou (pictured) says the buy adds to a network of partners in more than 55 countries, and gives the company 'the leading position in Belgium, in a market with strong barriers to entry'. Further details will be released next Friday when Bilendi publishes its annual results.

Bilendi is listed on Alternext of Euronext Paris and is online at www.bilendi.com .

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