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YouGov Buys US Research Firm
Online market research agency YouGov has acquired US branding, customer sat and new product research specialist Clear Horizons for an initial fee of $600k, which could rise to $2.7m based on performance targets over the next three years.
Princeton, New Jersey-based Clear Horizons is a consultative research firm that specializes in ensuring the success of new products in the consumer and business to-business technology markets. The firm provides quantitative custom and syndicated studies.
YouGov says that the deal will bring Clear Horizons's list of blue chip clients and team of 'excellent researchers' to its stateside operations. Using a consultative approach based on online surveys and sophisticated analytics, Clear Horizons will be able to take advantage of YouGov's existing US data collection infrastructure and extend the range of its market research activities.
YouGov CEO Nadhim Zahawi explained that the acquisition fits his firm's strategy for expanding its US business. 'There is a good fit between Clear Horizons' research capabilities and our data collection and product offerings such as BrandIndex. This expansion will help us in achieving our goals in the USA and provide a solid foundation for future organic growth.'
Zahawi added that the acquisition is expected to be 'earnings enhancing' in the current financial year.
Andy Cross, Clear Horizons' President and CEO, said he is confident that by combining his firm's analytic capability with YouGov's infrastructure, his firm will be able to add greater value to its current and new clients.
YouGov share price is up 1.08% to 47 pence today.
Earlier in the month, YouGov reported a 54% drop in headline pre-tax profits to £2.4m (2008: £5.2m) for the six months to the end of January, and announced that thirty of its 420 staff are to be made redundant, in an effort to save £2.5m ($3.6m) a year.
Web site: www.yougov.com .
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