Apoyo Opinion y Mercado, the largest company of its kind in the Andean region, is credited with having a 30% share of the Peruvian market research industry, and has clients in the food, drinks, banking and retail sectors.
The company specialises in quantitative and qualitative research, and also has an advertising and customer relationship management department.
Ipsos said the acquisition of Apoyo Opinion y Mercado SA, which also operates in Bolivia and Ecuador, was a strategic decision to expand its presence in the South American market.
Carlos Harding, deputy chief executive officer at Ipsos, said: "Apoyo Opinion y Mercado SA is a company recognised in the region for its rigorousness and quality of service, and this strategic alliance was the missing piece needed to consolidate Ipsos' leadership in Latin America."
The company, which was founded in 1984, is owned by the Apoyo Group, has revenues of over $10m (£5.1m) and employs 200 people.