Indiantelevision.com Team

(4 July 2008 3:30 pm)

MUMBAI: Synovate, the market research division of Aegis Group, has acquired Kenya-based Steadman Group for an undisclosed amount.

Steadman Group is a market research company headquartered in Nairobi. It provides custom market research and media monitoring for African businesses and international clients.

A jointly released statement by both the parties stated that though Synovate has procured a 100 per cent interest in the market research and media monitoring company, Steadman business will continue to operate under the same management. The other companies within the group, however, will be wholly-owned subsidiaries of Synovate.

While Roger Steadman will continue to head Steadman, George Waititu will continue as managing director. They will be responsible for the research business across Africa.

Post this acquisition, Synovate will become the largest single market research group in Africa. It is currently in a total of 63 markets globally.

Earlier in June, Synovate had bought Russian digital agency Adwatch and search marketing agency Globlet.