Toluna Buys Common Knowledge

European panel and survey technology provider Toluna has bought US-based panel management firm Common Knowledge for an initial $8.49m in cash and a deferred cash sum of $2.16m.

The first deferred payment of $1.255m is payable a year from today, and the second of $0.905m in two year's time.

Funding for the acquisition is through a combination of Toluna's existing cash resources, a new multicurrency revolving loan facility of £3m, and additional funding of £512,500 raised from an issue of new shares to ToLuna's majority shareholder, venture capitalist Eurovestech, at 205 pence per share. This will bring Eurovestech's holding to 50.5%.

Founded in 1988 by President Steve Lavine, Dallas-based Common Knowledge provides digital data collection services to corporate clients and market research firms. The company, which runs consumer, B2B, healthcare, technology and mobile panels, will bring Toluna an additional US panel of more than half a million members. Management accounts for 2007 showed a profit of $1.6m.

ToLuna CEO Frederic-Charles Petit said the acquisition is an 'important strategic step' in reinforcing his firm's North American operations.

Lavine, who becomes CEO Toluna US, responded by saying of the deal: 'Joining forces with ToLuna puts quality leading sample services in the USA and Europe into one group capable of delivering on the global research needs of our clients with representative sample and reliable data delivery.'

Toluna operates panels in 30 countries across Europe, North and South America and Asia, with a total of more than 2.4 million members. The firm recently reported a 42% rise in pre-tax profits.

Web sites: www.toluna.com , www.commonknowledge.com and www.eurovestech.co.uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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