Market researcher FIND/SVP Inc. agreed to buy Atlantic Research & Consulting Inc. and Signia Partners Inc., both intelligence providers focusing on sectors such as healthcare and financial services.
The deal calls for an initial $7 million cash payout and $800,000 in common stock as well as a three-year contingent executive earn-out for both companies combined.
Atlantic, Boston, adds to the 35-year-old FIND/SVP's market research capabilities, with hardly any client or sector overlap. The deal also strengthens New York-based FIND/SVP's presence in the New England market.
Founded 20 years ago by Peter Hooper, Atlantic last year recorded revenue of $5.8 million via qualitative and quantitative custom market research services. The company specializes in the financial services, management consulting, healthcare and public sectors.
Atlantic will be integrated into FIND/SVP's custom market research division once the deal is closed, as will Signia.
Established in 1984, Signia offers business research in the financial services, healthcare and consumer areas. CEO Douglas House in 1992 bought the firm, which is based in a suburb of Washington. Revenue last year was $4.4 million.
Hooper and House will serve on FIND/SVP's operating management group after the deal closes. They will lead FIND/SVP's respective market research and business research divisions.
Mickey Alam Khan covers Internet marketing campaigns and e-commerce, agency news as well as circulation for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters