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Teleconomy Buys Net Profit
Research consultancy Teleconomy has just announced its purchase of Net Profit, the UK based Internet analyst and publisher. The deal sees Teleconomy restructured into a new strategic research consultancy and publishing group, with specialisms in consumer and corporate behaviour across virtual channels.
Following the acquisition, Net Profit will, in effect, form the publishing arm of the new Teleconomy Group. Its online publications and reports will retain the Net Profit brand. At the same time, the existing publications will be re-launched and a range of new sector-specific publications will be bought out later this year
In terms of main personnel changes, Simon Flemington, the current MD of Net Profit, will now take up the post of Chief Operating Officer for the group. David Bowen will remain as editor-in-chief at Net Profit. Michael Hulme will head up the group as Chief Executive Officer.
The new group will be headquartered in Teleconomy's Lancaster office, with Net Profit staff based at the company's current London Bridge site. The overall group is believed to be seeking larger London premises and recruiting additional staff.
'The purchase of Net Profit is an important step towards our goal of building a research and publishing group with a reputation for cutting edge thought leadership in the UK and internationally,' said Michael Hulme, CEO of the Teleconomy Group. 'There is a tremendous synergy between our two companies and together we will be able to expand and develop exciting new products and services.'
Teleconomy has also just announced that it has signed a partnership deal with Logica Consulting, the management advisory arm of Logica. The new arrangement will combine the research of Teleconomy with the management consulting and technology implementation expertise of Logica. The partnership is designed to produce a series of joint research papers, events and offerings. Logica will also incorporate Teleconomy's research into its range of current Digital Lifestyle and CRM offerings.
'In 2001 the European CRM market will reach USD10 billion. Experience so far shows that little of this investment will yield any return and that too much has been invested in sales and marketing systems that lack any critical analysis of their commercial potential,' said Paul Lethbridge, Client Partner at Logica Consulting. 'Using Teleconomy's unique research we will build upon our current portfolio of research, to continue to deliver customer facing systems that are both effective and deliver a return on investment.'
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