YouGov PLC on Thursday said that it has agreed to buy the consumer panel business ofmarket research firm GfK SE for a headline purchase price of €315 million.
GfK’s consumer panel business is focused on household purchase data, with panels across 16 European countries, consisting of over 100,000 households.
London-based research and data analytics group YouGov said that not only would the acquisition extend its offering into the fast-moving consumer goods sector, but would help expand its offering to US clients.
YouGov said it will fund the acquisition through a placing of new shares, which it expects to raise gross proceeds of £55 million. The new shares will represent approximately 4.9% of its issued share capital.
The remainder of the cash consideration financed by a fully committed bridge debt facility and existing cash on balance sheet.
The acquisition is subject to closing conditions including any necessary regulatory approvals and works’ council consultations in certain jurisdictions. Completion is expected in the second half of 2023.
YouGov shares closed 3.5% lower at 955.00 pence each in London on Thursday. It has a market capitalisation of £1.05 billion.
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