Ipsos has announced that it has successfully completed the acquisition of the Synovate business for an enterprise value of £525 million. Following this transaction, Ipsos becomes the third largest global market research company.
The acquisition was announced on July 27, 2011 and was conditional upon various approvals, which have been obtained since then: the transaction was approved by Aegis’ ordinary shareholders on August 16, 2011 and obtained the mandatory anti-trust clearances thereafter.
The completion of the transaction occurs following the successful capital increase with preferential subscription rights of €200 million launched by Ipsos on September 8, 2011, to fund part of the acquisition price, and completed on September 30, 2011.
Commenting on the development, Didier Truchot, Ipsos Co-President, said, “We are delighted to have completed the acquisition of Synovate, which is transformational for our company. With Synovate, Ipsos strengthens its leadership position in its chosen areas of specialisation and enhances its intellectual and commercial offer to bring enriched and improved solutions to our clients. We are working quickly and jointly with the Synovate team and are delighted to welcome them within Ipsos. We are confident in our ability to achieve the objectives of the combination identified at the announcement of the transaction.”
Synovate will be included in Ipsos’ consolidated accounts from October 1, 2011.