Harris Interactive has acquired WirthlinWorldwide, a privately held opinion research and strategic consulting firm, headquartered in Reston, Virginia in the USA.
The deal was completed with a combination of stock and cash valued at $41.8 million, and will add $50 million in annual revenue and 300 new clients to Harris Interactive. The combined firm will have over 1,000 employees and is expected to generate $210 to $215 million in revenue this fiscal year.According to Robert E. Knapp, CEO of Harris Interactive "I'm excited about the deep, consultative and strategic relationships WirthlinWorldwide has built with their clients. By joining forces, we can now introduce the added benefits of online research to the executives of 300 more companies. This combination expands our portfolio of products and services and injects a significant amount of intellectual capital into our organization. We are well on our way to achieving our goal of becoming a $500 million strategic market research firm in the next five years."
"For over 40 years, I have been passionate about helping our clients build measurable value. With this merger, we can now arm clients with a broader and more powerful suite of world class research tools. The entire WirthlinWorldwide team believes the combined firm will be a significant force in the marketplace," added Dr. Richard B. Wirthlin, founder of WirthlinWorldwide. "We have been approached by many suitors through the years, but none rivaled the Harris Interactive combination of intellect and innovation. They are true world leaders in online research."
It has also been announced that Dr. Richard B. Wirthlin, founder of WirthlinWorldwide, will join the Harris Interactive board as a director. Wirthlin will also continue to develop strategic direction for both clients and the internal operating groups within the company.
