New NFO WorldGroup Acquisition

NFO WorldGroup has this week announced the acquisition of FYI Worldwide, the second largest provider in the USA of new product volume forecasts.

The acquisition, newly named NFO FYI, will enable NFO WorldGroup to expand its capabilities in the volumetric forecasting and marketing mix modelling areas. The terms of the deal have not been disclosed.

NFO FYI, founded in 1991, conducts marketing research analysis, modelling and forecasting, and services clients in the consumer packaged goods and a variety of other industries. The company is the leader in ROI analysis of direct-to-consumer marketing for the Rx pharmaceutical industry, forecasts new Rx launches and is a pioneer in the Rx promotional mix analysis.

According to Randy Smith, NFO WorldGroup President and Chief Operating Officer, 'NFO is very active in new product and concept testing, and many of our clients have specifically requested that we establish our own volumetric forecasting capabilities to aid in the decision-making process for new products. The acquisition of NFO FYI will help us to better meet our clients' needs, particularly in the consumer packaged goods and pharmaceutical industries. We will use FYI's powerful modelling expertise initially in North America, but anticipate eventual expansion to other regions over time.'

Dave Bieber, Executive Vice President of NFO FYI added, 'We are very excited about the additional growth opportunities that this acquisition by NFO WorldGroup provides. We are especially excited about the chance to combine our modeling skills with the Interactive research capabilities of NFO to provide faster and more robust solutions to key client issues.'

Ken Sobel, one of the three long-term partners in FYI and now Senior Vice President of NFO FYI, founded FYI. He and the other two partners, George Ciardi, also a Senior Vice President, and Mr. Bieber, remain with NFO FYI. Headquarters for NFO FYI will remain in Wilton, Connecticut with a western regional office in Fountain Hills, Arizona.

All articles 2006-22 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.