YouGov PLC
25 May 2005
25 May 2005
YouGov establishes presence in the Middle East
- signs exclusive media contracts
YouGov plc (the Group), one of the UK's leading market research and opinion
polling companies, announced today that it has established a joint venture
company, YouGov M.E FZ-LLC (YouGov ME) in the Middle East, and signed contracts
with two of the leading media owners in the region.
YouGov ME, as indicated in the Group's admission document has been in
development since before the Group's recent listing on Aim, will now conduct
market research and polling across the Middle East as well as providing its
media partners with detailed monthly surveys. The new company will be based in
Dubai, the commercial hub of the region. YouGov plc will own 52% of YouGov ME,
with the remaining equity owned by local investors who have committed to invest
up to US$1 million by the end of December 2005. The funding will be used to
build a regional panel, YouGov plc will provide its proprietary technology and
market research know how.
YouGov ME will undertake monthly custom research projects for Al Nisr
Publishing, publisher of Gulf News, the leading English Language newspaper in
the GCC region. It will also build a consumer panel and conduct monthly surveys
for ITP, the largest business and consumer magazine publisher in the Middle
East.
The Group has considerable experience in the Middle East having built a panel of
business men and women for HSBC Bank Middle East. This panel is surveyed three
times a year for the HSBC Middle East Business Confidence Index, which is
published in the Middle East Economic Digest Magazine.
Opening an office in the Middle East is consistent with the Group's strategy of
growing its business through selective acquisitions and organically, by applying
its knowledge of online polling and market research to new commercial and
geographical markets.
Commenting on these developments Nadhim Zahawi, Joint Chief Executive Officer of
YouGov, said:
'Extending our operations in the Middle East will provide considerable scope for
growth in this dynamic region and is entirely consistent with the strategy for
growth that we outlined at the time of our recent IPO. This joint venture
approach also demonstrates the strength of the YouGov business and the
scalability of our technology.
'Our experience in the UK has demonstrated the importance of strong media
partners and by signing deals with Al Nisr and ITP we are now placed to grow the
YouGov brand in this market.
'The internet has lead to fundamental changes in the way that market research is
conducted at the same time that understanding people's behaviour, choices and
attitudes is more important and valuable to marketers than ever before. These
trends, coupled with the accuracy and efficiency of our research tools, will
support further growth from what is already a well-established base.'
ENDS
Enquiries:
Nadhim Zahawi, Joint Chief Executive 020 7618 3010
YouGov
Charles Palmer/Caroline Long 020 7831 3113
Financial Dynamics
This information is provided by RNS
The company news service from the London Stock Exchange
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