New Name, Sale Rumours for Nielsen Global Connect
Nielsen has announced that is consumer business will be renamed NielsenIQ, once it becomes a standalone company. Separately, a report in the Financial Times suggests that private equity group Advent International is in talks to buy the division in a deal valuing it at about $2.9bn.
On the completion of a strategic review a year ago, Nielsen announced that it would split its business into two standalone companies: Global Media, similar to its old 'Watch' division; and Global Connect, similar to the old 'Buy'. The latter name hasn't lasted long, and reports suggest the division could be headed for new ownership as well.
The Chicago-based business soon to be known as NielsenIQ employs approximately 30,000 employees in nearly 100 countries around the world. A new logo has been unveiled, and according to CEO David Rawlinson, the re-brand is one of the many actions the business is taking as part of its 'blueprint for modernizing the client experience'.
'We are on an exciting journey to meet the unique needs of our clients,' said Rawlinson. 'The Nielsen brand - with a nearly century-old legacy - is recognized throughout the world. Our new brand reinforces our commitment to deliver the accuracy our clients depend on to make critical decisions confidently, coupled with a name and design that doesn't lose sight of our heritage'.
A new web site is up and running at www.niq.com .
Separately, the Financial Times newspaper reports tonight that according to ' two people familiar with the matter', US-based Advent is looking to buy the consumer data business. The FT says it is 'not clear whether a formal offer has been made', and that Advent and Nielsen had declined to comment. Any such buy would draw a firmer line between the two halves of the old business, which are due to launch and separate more formally early in 2021.