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Ipsos Buys Turkish Agency
Ipsos has agreed to buy Turkey's second largest MR agency, KMG Research, beginning with 51% of the share capital and with an option to acquire the remainder in the future.
The Turkish research market, in which Ipsos previously had no direct presence, is one of the world's fastest growing with 28% added to sector revenues in 2005 according to ESOMAR. Rival GfK already has a prominent operation in the country.
KMG was founded only in 2001 and is owned and managed by a group including CEO Vural Çakir. It employs 246 permanent staff and had 2006 revenues of $US 9.1m, making it Turkey's second largest agency. Services include consumer panels, media measurement, retail measurement, marketing and loyalty research, including both quant and qual.
Ipsos Co-president Didier Truchot says Turkey was 'one of the big countries were Ipsos had no presence'. Vural Çakir comments: 'The vast expertise of Ipsos from advertising to public affairs will further strengthen our capabilities and will enable us to provide superior products and services to our clients in Turkey.'
Ipsos is online at www.ipsos.com . KMG's Turkish home page is at www.kmg.com.tr , with an English language version under construction.
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