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HPI Undocks and Blasts Off from Interpublic
UK agency HPI Research has been bought by its management from communications group Interpublic, for an undisclosed sum.
Senior Partner David Iddiols told DRNO the management team had been talking 'amicably' about the possibility with Interpublic since the beginning of the year, having felt that the bond was bringing it more disadvantages than advantages.
Iddiols says few of the possible synergies with other parts of Interpublic were realised or exploited in the seven years since the firm was acquired, contrasting with other communications groups like WPP, and that HPI had remained 'a satellite research company'. Meanwhile, being part of the group meant HPI was prevented from pitching for some 'fairly large scale' research projects, such as advertising tracking studies, due to competitive considerations between Interpublic and the potential client.
HPI's senior team is well-established and 16 people have a share in the newly independent company, currently the twelfth largest in the UK by turnover. Whilst enthusiastic about the potential for the firm, Iddiols says the team's priority is to maintain its high quality approach rather than look for 'massive' expansion: 'We'll be looking to strengthen our position at the premium end of the research market. We have some leading edge proprietary techniques, particularly for communications and brand research, for which there is potential for growth.' He also expects the company to invest in growing its online research capabilities.
HPI's sci-fi themed web site is at www.hpiresearch.com .
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