WPP has acquired 86.6% of Irish Marketing Surveys Group, which will become part of WPP's brands and communications research company, Millward Brown. WPP has said it has entered into put and call options over the remaining equity.
The Dublin-based IMS Group was founded in 1963 and is the largest full-service market research firm in Ireland, comprising three major companies: Irish Marketing Surveys, which will now be rebranded Millward Brown IMS; the Lansdowne Market Research; and Ulster Marketing Surveys, which will be rebranded Millward Brown Ulster.
The IMS Group employs 130 people in Dublin and Belfast and had revenues of 拢10.4m in 2001 and net assets of 拢860,000 for the year ended December 31 2001.
IMS Group clients include a wide range of leading public and private companies, government departments and semi-state bodies. It also works extensively with most of the major multinational businesses with interests in Ireland.
In a statement, WPP said: "The acquisition of the IMS Group reinforces Millward Brown's ability to provide clients with integrated research techniques and continues WPP's strategy of strengthening its networks in important growth sectors and markets."
It is the third acquisition WPP, which was the UK's most acquisitive company in 2001, has made this year. Earlier this year, it bought Manchester media-buying company Purely Media, a stake in Japanese PR firm PRAP Japan and German internet agency Concept.
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