YouGov swoops on US marketing research company
YouGov, the online market research agency, is planning to buy US marketing and strategic research consultancy Harrison Group for an estimated $13m (£8.22m).
YouGov has reached a conditional agreement to buy the company for an initial consideration of $6m (£3.79m) with further amounts, estimated at $7m (£4.42m), payable over the next three years depending on hitting targets.
Harrison’s specialities include concept evolution, forecasting, segmentation, branding, business consulting and market modelling across multiple sectors, with a particular emphasis on the interactive entertainment and wealth sectors.
When combined with YouGov’s existing US operations, the acquisition will double the scale of the US business.
YouGov says that the corporate market research sector in the US is worth $8bn and the acquisition offers the opportunity to leverage YouGov’s proprietary technology and analytics.
It will also offer greater scale “so as better to meet the growing demands of the combined customer base”.
YouGov’s marketing insights group bolstered its offering to the corporate market research business with the acquisition of Clear Horizons in April 2009 and says that it is also seeing organic growth.
In a statement YouGov says: “The addition of Harrison will provide immediate growth in scale in this important market and is consistent with the Group’s strategy of expanding its commercial market research business in the USA.”