Fiftyfive5 Buys The Leading Edge and The Digital Edge
Australian insight consultancy Fiftyfive5 has acquired Sydney-based research and data consultancies The Leading Edge (TLE) and The Digital Edge (TDE) from marcoms group Enero for $1.35m in cash. The TLE and TDE teams will move into the Fiftyfive5 Ultimo office on Monday.
Founded more than 30 years ago, TLE specialises in innovation, shopper marketing and brand management. In 2019, it closed its London office, citing 'Brexit uncertainty-related issues'. TDE, which was established in 1999, is an online MR fieldwork agency, delivering data for researchers and PR agencies. Enero acquired the two businesses in 2004, and more recently, they contributed $2.7m to the group's net revenue for FY21 and $1.3m for 1HFY22. In a statement, Enero said that the sell-off is part of its strategy to refine its portfolio of global brands.
Fiftyfive5, which was founded in 2010 by former TLE Directors Karen Phillips and Darren Kemp, has welcomed the TLE and TDE staff, adding that the deal will enable it to better control and solve an industry-wide challenge around the declining quality of panel data. In addition, the takeover is set to enhance Fiftyfive5's existing capabilities in automation, technology-based delivery of insights, modelling and data analytics. The immediate focus will be on growing the size of the panel, integrating the TDE and TLE teams and strengthening potential external partnerships to enrich the panel data.
Mark Sundquist (pictured), CEO of Fiftyfive5 (who was previously CEO of TLE), comments: 'We know the team at TLE and TDE well and they bring a lot to our business which we are excited about. Having ownership of a panel and panel capability opens up a range of really interesting opportunities for us - from building out bespoke sub-panels of hard-to-reach audiences, to integration of panel and transactional data. Ultimately, this gives us the freedom and flexibility to innovate in approach.'
Web sites: www.fiftyfive5.com , www.theleadingedge.com and www.thedigitaledge.com.au .