Nomura Research Buys Stake in Indian Firm

Japanese IT solutions and consulting services provider Nomura Research Institute (NRI) has bought a 25% stake in Indian research company Market Xcel Data Matrix (MX), in order to strengthen its own research and consulting services offer. Terms of the deal were not disclosed.

MX, which is led by CEO R. Vishal Oberoi (pictured), offers B2B and B2C qual, quant and desk research services, along with an in-house data collection team, and access to an online consumer panel. The firm, which was founded in 2000, currently operates from ten locations across India: New Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderabad, Ahmedabad, Pune, Lucknow and Patna.

Clients include NRI in India, which offers services mainly for Japanese car manufacturers and other manufacturing industries through a team of consultants who provide market research, business planning services, M&A support, and the establishment of joint ventures.

As a part of the deal, the Deputy General Manager of NRI's Consulting Business Department becomes Non-Executive Director of MX.

NRI said in a statement: 'With this alliance, NRI has secured a stable base to promote its research and consulting business in India, as well as infrastructure to offer its clients more assured and higher quality services.'

Web sites: www.nri.co.jp/english and www.market-xcel.com .