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Ipsos announced yesterday the acquisition of 75% of the share capital of Indica Research with an option to acquire the remaining shares in the future.Richard Mecchi, CEO of Ipsos in the Asia Pacific region, said: « We are delighted to welcome Indica Research into the Ipsos group. Indian market research grew by 17% in 2006 and this acquisition will reinforce our presence in the region. We share with Indica Research the same strong commitment to build a successful strategic relationship with our clients, and working with them will allow us to better serve our clients across the region. »
V.G. Pillai, CEO of Indica Research, said: « We are delighted to be part of the Ipsos’ global network. Indica Research’s strengths and expertise combined with Ipsos’ global products, standards and market insights will enable us to offer a wider range of cutting edge solutions to clients in India. In addition, the partnership will provide a worldwide platform to our employees to enhance their professional skills and opportunities. »
goetzpartners Corporate Finance and Avendus Advisors acted as exclusive financial advisors to Ipsos on this transaction. They created an alliance at the beginning of 2007 in order to undertake crossborder transactions for European and Indian clients.