Harris Interactive Extends European Capabilities with Acquisition of German Online Market Research Firm MediaTransfer AG
Harris Interactive® (NASDAQ:HPOL) has acquired MediaTransfer AG Netresearch & Consulting, a private European online research firm based in Hamburg, Germany which will provide access into the $2.2 billion German market research market - the fourth-largest in the world.
MediaTransfer was founded in 1996, and has been conducting online research since 1999. The firm generated approximately $6 million (USD) in revenue in calendar 2006, 92% of which was derived from Internet-based research. The firm has extensive experience and deep expertise in the CPG industry, including the application of proprietary technology that creates virtual retail shopping simulations to test package design, shelf placement configurations, pricing etc. In addition to its strong CPG practice, MediaTransfer has proven expertise in telecom, financial services and pharmaceutical research.
“Adding MediaTransfer to the Harris Interactive family will expand our access into the European research market and enable us to better serve our multinational clients,” stated Gregory T. Novak, president and CEO of Harris Interactive. “Their deep experience in conducting online research, their 250,000 member online panel, their rich CPG expertise and their innovative visualization technology will be strong additions to our global solutions portfolio.”
“This is a big plus for our customers as well,” stated Dr. Thomas Rodenhausen, spokesman of the board at MediaTransfer AG Netresearch & Consulting. “By joining forces with Harris Interactive, MediaTransfer will now be able to offer our clients more of what they’re looking for in a research partner: access to vastly expanded international capabilities, a much larger online panel and a complete portfolio of proven research tools.”
Harris Interactive paid €9 million (about $12 million USD) in the all-cash deal for the firm, which has excess net working capital of approximately €1 million and no debt.
The MediaTransfer employees will join the Harris Interactive Europe organization, and remain in their current location.
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