- WPP Group has agreed to acquire, on behalf of its wholly-owned subsidiary Millward Brown, the entire issued share capital of IntelliQuest Information Group, a US provider of information services for technology companies.
Following the transaction, IntelliQuest will join Millward Brown, which specialises in advertising and brand research and is a member of The Kantar Group, WPP's information and consultancy division. IntelliQuest, which is listed on Nasdaq, will work closely with other Kantar companies.
IntelliQuest, which employs more than 200 people, provides global research products and services to many of the world's most hi-tech companies.
IntelliQuest had revenues of $26.4 million for the year ended 31 December 1998 and net assets of $40.1 million at 31 March 1999. Its website is located at www.intelliquest.com.
Headquartered in Austin, Texas and with satellite offices in Atlanta, Redwood City and London, IntelliQuest comprises three businesses: marketing research services; Zona Research which provides in-depth analysis and assessment of the internet and intranet markets; and the recently-divested IQ2.net which provides information and services that enable companies to undertake targeted marketing on the internet.
IntelliQuest chief executive Brian Sharples commented: "We are extremely excited at the opportunity to work with Millward Brown and with other Kantar companies as it provides IntelliQuest with a worldwide infrastructure and expanded client base to pursue our Internet strategy. This merger will significantly increase our ability to serve multinational clients and to expand our panels outside the US."
The acquisition marks continued strengthening of WPP's information and consultancy activities through the operations of its Kantar businesses.