Global group Ipsos has bought a controlling share of India's Indica Research.
Indica was founded in 1994 and now employs more than 150 full-time staff at its offices in Mumbai, Delhi and Kolkata. The firm ranks among the top five survey-based research companies in India, and last year its turnover reached 146m INR (€2.9m).
Ipsos has acquired 75% of the company with an option to increase its share at a later date. Outlining the reasons behind the investment, Richard Mecchi, CEO of Ipsos in the Asia Pacific region, explained: ‘It was important to reinforce our presence in this country where market research market grew by 17% in 2006.’
The company is managed by three MDs – Mr V G Pillai, Mr V Ravi and Mr B Narayanaswamy. Pillai responded by saying that becoming part of the Ipsos' global network, would enable the firm to offer a wider range of solutions to clients in India, as well as providing employees with the opportunity to enhance their professional skills.
Source: MR web