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Illuminas Sells Field Units to IQ
UK b2b research specialist IQ is to acquire Viewpoint Field, Viewpoint Studios and The Wire from global agency Illuminas, in a move it says will help develop client facing practices for its research-based consultancy businesses.
IQ has agreed to pay £750k in cash plus shares worth £250k for the three units, and a possible deferred consideration of up to £500k in cash paid over the period of three years. The deal is subject to the approval of IQ shareholders and it is anticipated it will complete in January 2009.
Surrey facilities Viewpoint Field and Viewpoint Studios provide respondent recruitment and host focus groups, while central London-based The Wire is an international CATI and online quant data collection business. Illuminas said it is selling the businesses as they are not 'core' to its strategy of focusing on marketing research consultancy.
In a statement, IQ said it is confident that steps to be taken to reduce its cost base and the improved service offered by the enlarged group will enhance its future prospects.
A year ago, IQ acquired Rosslyn Research, suggesting at the time that it would look for further acquisitions of firms complementary to its current offerings.
Web sites: www.iqresearch.co.uk , www.illuminas-global.com , www.viewpointservices.com and www.the-wire.co.uk .
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