Market and social research agency Taylor Nelson Sofres is buying out its Indian partners — the promoters of Mode Research — in a joint venture Taylor Nelson Sofres Mode to raise its holding in the entity from 30 per cent to 100 per cent. The transaction is expected to be completed by March 31, 2001 and the Indian venture would be integrated with the global operations of the foreign research agency.
TNS entered the Indian market research market in 1997 by acquiring 30 per cent stake in Mode Research from its six partners. The agency was subsequently renamed Taylor Nelson Sofres Mode.
Worldwide Taylor Nelson Sofres is the third largest market research agency with turnover in excess of $630 million and market capitalisation of $1.7 billion on the London Stock Exchange. In India, according to some estimates, the agency lags behind ORG-MARG-AC Nielson, IMRB and MBL-RCG.
The total turnover of the market research agencies is estimated at Rs 2,300 crore and TNS Mode accounts for a mere five per cent of that turnover.