STOCKHOLM - WPP owned-Research International has strengthened its position in the Nordic countries following the $280 million acquisition of Sifo Research & Consulting, Scandinavia's biggest media and market research agency.
The deal includes all operations of Sifo Research & Consulting, together with the brand name "Sifo." As part of the agreement, Sifo Group has undertaken to change its name.
Following the divestment, Sifo Group will focus its operations on its Observer Media Intelligence division, a leading media and market monitoring company. It has also agreed to explore further areas of strategic cooperation with WPP, both in Scandinavia and in Europe.
Sifo Research & Consulting has 375 employees and operating revenues of $48 million. It is the market leader in Sweden for market research and related consulting services, and is a major research company in Norway and Denmark.
The company is divided into six business areas, including brand and communications management, market strategy development and market planning, media analysis and public opinion polling.
Copyright August 2000, Crain Communications Inc.