Synovate Buys Remainder Of Indian Agency

Synovate has acquired the whole of Mumbai-based agency Blackstone Market Facts, one of the largest full-service research agencies in India, with twelve offices around the sub-continent. Synovate already owned 25% of Blackstone, which becomes its first fully owned Indian operation.

Blackstone will be quickly integrated into the group, giving existing clients in India immediate access to all Synovate research solutions and the global network of more than 80 offices in 47 countries.

Synovate's CEO Adrian Chedore comments: 'We felt the Indian market had so much long-term potential that we wanted to ensure our full involvement in and commitment to what we see as a stellar future. We are delighted to have inherited a well-developed research infrastructure around the country and some of the best research minds. Many of our global and regional clients have been using us to conduct work in India for years and our presence there is already an important part of our offering'.

Blackstone MD Alok Shanker said the deal would give the company the scale, scope and reach it needs to take full advantage of opportunities in the Indian marketplace: 'This deal acknowledges the high quality of the team in India and our past achievements but - perhaps more importantly - it now allows us to take the business even further'.

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