DRNO - Daily Research News
News Article no. 14389
Published October 12 2011




Ipsos Completes Synovate Buy

Ipsos has completed its acquisition of Synovate for 528.8m - up 3.8m from the previously agreed figure of 525m - to form the third largest market research company in the world. As part of the deal, a programme has commenced to withdraw the Synovate brand in January.

Didier TruchotThe deal, which was first announced in July, was funded with cash, new debt financing, and a rights offering to Ipsos shareholders. It excludes the acquisition of international scan data services business Synovate Aztec.

Synovate parent Aegis said in a statement that it would be returning 200m of funds raised from the sale to shareholders, by means of a special dividend.

Didier Truchot, Ipsos Co-President, comments: 'With Synovate, Ipsos strengthens its leadership position in its chosen areas of specialization and enhances its intellectual and commercial offer to bring enriched and improved solutions to our clients. We are working quickly and jointly with the Synovate team and are delighted to welcome them within Ipsos.'

Synovate recently reported an 8.4% rise in revenue to 269.7m for the first half of the year. The firm's financial results will be included in Ipsos' consolidated accounts from 1 October 2011.

The sale will enable Aegis' Board and management to focus on its media business, while the proceeds will be used to invest in future acquisitions.

Web sites: www.ipsos.com and www.synovate.com .


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