YouGov PLC
31 July 2006
31 July 2006
YouGov plc
First International Acquisition - Siraj Extends YouGov's Middle Eastern Offer
YouGov plc, the full service panel based online research agency, today announced
that it's 78% owned subsidiary YouGov ME FZ LLC has signed an agreement to
acquire Siraj Marketing Research and Consultancy Boutique ('Siraj'), a leading
Dubai based market research company. The purchase price will comprise an
initial consideration of £800,000 and a deferred consideration of up to £400,000
payable over three years up to a total of £1.2m.
Siraj was established in 1999 and provides its domestic and international
clients with bespoke qualitative and quantitative market research services.
Siraj has an excellent reputation for providing insight and high quality market
research which draws on the company's strong local knowledge and understanding
of the region.
The acquisition is consistent with YouGov's strategy of client led geographical
expansion and selective acquisitions. The addition of Siraj to YouGov's existing
operations will further extend the group's offer in the Middle East. Siraj will
also benefit from being part of a larger market research group which will allow
it to offer both existing and potential clients integrated research services.
The gross assets acquired were £130,000 as at 30 September 2005 and unaudited
profits for the 9 month period to 30 June 2006 were £65,000. The acquisition is
expected to be earnings enhancing in the first full year of ownership.
Commenting on the acquisition, Nadhim Zahawi, Joint CEO and co-founder of YouGov
plc, said:
'Siraj is an established company with a great reputation. The market research
sector is growing rapidly in the Gulf Cooperation Council Area and the enlarged
group will be well placed to provide complementary services to its growing
client base. The acquisition brings a highly experienced, Arabic speaking team
to YouGov and adds further strength to our team in the region. This first
international transaction is consistent with our strategy of growing our network
in the region through partnerships, acquisitions and market share gains.'
Nassim Ghrayeb, Managing Director of Siraj, added:
'YouGov has an excellent reputation in the region as well as in the increasingly
important online research sector. Joining forces with YouGov will allow us to
develop market leading products and service for the region and to build on the
strong positions that both companies have developed independently.'
ENDS
YouGov plc Tel: 020 7618 3010
Nadhim Zahawi, Joint CEO
Katherine Lee, CFO
Financial Dynamics Tel: 020 7831 3113
Tim Spratt / Kim Muckle
This information is provided by RNS
The company news service from the London Stock Exchange
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