YouGov plc Acquires Decision Fuel
YouGov plc, the international online market research agency, is pleased to announce the acquisition of 100% of Decision Fuel ("DF"). This acquisition is consistent with YouGov's strategy of extending its reach to emerging markets. DF will enable YouGov to provide a full service offer in the growth markets of China and South East Asia to meet client demand for opinion data from this region. DF's mobile technology will also enhance YouGov's ability to conduct research among consumers who do not have access to fixed-line internet or smartphones.
DF is a market research and technology company whose objective is to provide fast, high-quality research to the Asian market using online and especially, mobile-based, technology to reach consumers across the region.
DF has offices in Hong Kong, Shanghai and Singapore and its own proprietary platform for mobile-based research. DF was set-up in 2011 by two experienced buyers of research in the Asian region: Patrick Corr, formerly a senior executive with Star TV, the Asian TV network and strategy firm Monitor, and Colin Marson, a former senior executive with Cerebos (part of Suntory) and strategy firm, Monitor. They will both continue to lead the business after it becomes part of the YouGov group. DF's non-executive chairman is Adrian Chedore, the founder and former CEO of Synovate. Further funding since the company's launch has been provided by a group of angel investors from the region.
DF's business operates across Asia, conducting single and multi-country projects primarily in China and South-East Asia. It has already built a consumer panel of 60,000 across five countries where it offers an Omnibus style service. Clients to date include global brands and media agencies. DF currently has 14 staff most of whom are based in its Hong Kong base with business development teams located in Singapore and Shanghai. DF is licensed to operate in China through a WOFE ("wholly owned foreign enterprise ")
Following completion, DF will immediately adopt the YouGov brand and its integration will be overseen by YouGov's Middle East management team, based in Dubai, which is managing the Group's expansion to emerging markets.
The initial purchase consideration payable for DF will be £0.6 million with additional earn-out payments to be made dependent on the performance of the business in the two financial years ended 31 July 2016 and 2017. The acquisition is expected to result in a small additional cost in FY 2014 and to make a positive contribution in FY15. The total purchase consideration based on the YouGov business plan for DF is expected to be approximately £5 million.