WPP's pursuit of TNS ends with $1.93B buy
Media holding company WPP Group PLC has acquired British market research firm Taylor Nelson Sofres (TNS) for $1.93 billion after a months-long pursuit.
For the past six months, TNS fought to avoid a takeover, but appeared to have changed its mind last week, when it began urging shareholders to accept a WPP deal. In the end, WPP was able to secure support for the deal from 82% of investors and has declared its offer unconditional.
The deal for TNS will enable WPP to offer more sophisticated services to clients that help them measure the effectiveness of their advertising efforts.
“We are delighted to be a step closer to welcoming such a fine company with strong people, clients and brands that will enhance our client offering,” said Martin Sorrell, CEO of WPP, in a statement.
Several market research-related deals in recent months reflect the growing importance of analytics to the marketing process.
In April, The Nielsen Company agreed to acquire IAG Research, and Forrester Research Inc. acquired competitor JupiterResearch LLC for $23 million in July.