Global market information company, Taylor Nelson Sofres, has bought the remaining 70% of Taylor Nelson Sofres Mode Private, a leading market information company in India. The original 30% holding was purchased by the group in May 1997.
Mode has 200 full time staff across 12 offices in India and also offers coverage in neighbouring countries. Its activities cover a number of markets including consumer, media, IT/telecoms and finance.
Mode’s revenue for the year ended 31 March 2000 was £2.3 million and net assets at that date were £0.1 million. The senior management team will remain with the business.
Commenting on the acquisition, Tony Cowling, chairman of Taylor Nelson Sofres, said: “With a population of over one billion, India is an important market and we are delighted to have the opportunity to extend and strengthen our operations there. We believe that Mode is one of the few agencies that can effectively and adequately service the subcontinent and its clients. The company is strong in many of our specialist sectors and this is another step in our strategy to develop our sector activities into global businesses.”
At 11:00am today stock in Taylor Nelson Sofres was down 5p at 232½p.
