Synovate Buys Majority Stake in Russia's COMCON

Aegis-owned Synovate is to further expand its presence in Russia by acquiring a majority stake in media research specialist COMCON. Terms were not disclosed, but Synovate will have the option to buy 100% of COMCON in 2015.

Founded in 1991, COMCON employs around 200 staff at its offices in Moscow and St Petersburg, and last year had a turnover of $18.9m.

The firm runs a series of syndicated media surveys, including BMRB's TGI (Target Group Index) service, and its own radio ratings statistical tool Crate. In addition, COMCON offers syndicated pharma research products, and works with customers in the FMCG and financial services sectors.

Over the coming months, the management, operations and research capabilities of both companies in Russia will be integrated into a single Synovate branded business.

Panicos Ioannides, MD of Synovate Russia will assist COMCON founder Elena Koneva in her new role as Managing Director of the combined businesses, and in the integration process. Oleg Feldman, founder of COMCON-Pharma, will continue to lead the healthcare business.

Koneva describes the combination of COMCON and Synovate as a 'great fit', with many complementary features including staff, services, methodologies and client sectors.

'Our goal for the integrated business is to be number one in the Russian market - the combination of COMCON's well-established Russian business and Synovate's existing Russian operation creates that opportunity,' states Synovate's Global CEO Robert Philpott.

Web sites: www.aegisplc.com , www.synovate.com and http://eng.comcon-2.com .