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Indian Firm Ponders East European MR Buy
Gurgaon, India-based consulting firm Tecnova has its eye on a 'mullti-million dollar' MR acquisition in eastern Europe, according to reports in The Times of India. The firm also plans partnerships elsewhere in Asia.
Tecnova Chairman and CEO Abhey Yograj told the publication, online at www.indiatimes.com , 'We can handle market research for the US and the UK out of India. But for Europe and Asia, which are multilingual, there is a language issue. There are a few good market research firms in the Czech Republic and Hungary, with expertise in French and German, which we want to acquire.' He continued: 'In Asia, because of differences in languages, we are looking at tie-ups with existing firms. Otherwise, we would need to acquire 4-5 firms in different countries.' The company also plans to add energy and education sector expertise to its existing strengths in consumer products, b2b, healthcare & pharma and auto.
Yograj bought out the company and worldwide rights to the name after French parent Tecnova SA collapsed in the 1980s, and added services for Indian companies planning to go global to the existing business of advising multinationals on Indian market entry.
The company is online at www.tecnovaglobal.com.
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