Scangroup bids for major stake in rival Kantar TNS
Bharat Thakrar, WPP Scangroup CEO. file photo | nmg
What you need to know:
- WPP Scangroup says it has reached an agreement allowing it to acquire a majority stake in Research and Marketing Group Investment Limited, which trades as Kantar TNS.
- The deal gives WPP Scangroup a 70 per cent stake in Kantar TNS currently held by Russell Square Holdings BV and a further 10 per cent of the 30 per cent stake held by International Research and Marketing Group Holdings.
- Kantar TNS operates in Nigeria and Kenya — the primary markets for WPP Scangroup.
Kenya’s listed Pan-African advertising and public relations firm WPP Scangroup has acquired a majority stake in rival Kantar TNS in a deal whose pricing was not immediately available.
WPP Scangroup said in a disclosure statement to the Capital Markets Authority (CMA) that it had reached an agreement allowing it to acquire a majority stake in Research and Marketing Group Investment Limited, which trades as Kantar TNS.
The deal gives WPP Scangroup a 70 per cent stake in Kantar TNS currently held by Russell Square Holdings BV and a further 10 per cent of the 30 per cent stake held by International Research and Marketing Group Holdings.
WPP Scangroup’s chief executive, Bharat Thakrar, described the proposed acquisition as a tremendous opportunity for business growth and investment in markets such as Nigeria and Kenya.
“The focus on research and data-driven operations perfectly fits our goal of providing horizontal, integrated communications services and products across sub-Saharan region. This deal increases WPP Scangroup’s presence and capability, enabling it to build a leading position in market research business,” Mr Thakrar said.
The deal signals WPP Scangroup’s appetite for new acquisitions across Africa, coming after the media services giant bought Cavendish Square Holding B.V in 2013 and Experiential Marketing (Proprietary) Limited (EMPL) in July 2014.
WPP Scangroup, which currently provides market research services through Kantar Millward Brown, said the proposed acquisition will enable it align the two market research businesses in order to boost operational efficiency and enhance service delivery to its clients.
Kantar TNS and Kantar Millward Brown are part of the Kantar Group, WPP Plc’s data management division and one of the world’s largest insight, information and consultancy groups.
Kantar TNS operates in Nigeria and Kenya — the primary markets for WPP Scangroup. It also has offices in Senegal, Cameroun, Cote d’Ivoire and Ghana.
