Market Probe Buys into China

Full service agency Market Probe has extended its international footprint with the acquisition of UP-Point China in Beijing. The company, which will be renamed Market Probe China, has annual revenues of $8m RMB (USD $1.2m). Terms of the deal were not disclosed.

CFO Karen Ethington said that while the acquisition represents only a modest addition to her firm's annual global revenue, it offered a 'critical entry point' into the Chinese market.

UP-Point conducts consumer satisfaction research and mystery shopping, as well as public opinion and social behavior research. It specialises in the telecoms, IT, industrial products, fast moving consumables, construction and real estate markets, and its team comprises three research directors, 20 research managers, and 60 field supervisors overseeing 800 interviewers.

Market Probe President & CEO Dr T.R. Rao commented: 'In its eight years of operation, UP-Point has conducted more than 300 market research studies. Now, with support from our global resources, Market Probe China will be able to offer a new level of stakeholder research capabilities to Chinese multi-national companies as they compete with American, European and Asian companies in the domestic Chinese market.'

Rao added that the short-term objective for Market Probe China will be to train its research staff in new techniques and models of stakeholder and marketing research so they can build their field service capabilities for domestic and international projects.

Market Probe was founded in 1976 and now has offices in 10 countries. The firm has $41.4m in annual global revenues, and a five-year growth rate of 154%.

This is Market Probe's sixth acquisition. Among the company's previous purchases are firms in Belgium, Singapore, the United Arab Emirates and Canada.

Web sites: www.marketprobe.com and www.up-point.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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