Taylor Nelson Sofres Acquires US Cinema Ad Tracking Group
Global market research company, Taylor Nelson Sofres (TNS), is to acquire Theatrical Entertainment Services and its sister company RapidChek Reporting (together TES) – the largest US supplier of box office sales and cinema tracking services to the film industry and cinema operators. TNS will pay an initial cash sum of £25.9 million (US$36.8 million) for the TES businesses.
The group’s turnover for the year ended 31 December 2000 was US$9.9 million with EBIT of US$5.3 million and net assets at that date of US$1.1 million. Dependent upon the achievement of earnings performance targets, TNS may pay further cash sums in the years from 2002 to 2007, up to a maximum combined total of £52.0 million.
TES will operate as a division of Taylor Nelson Sofres’ CMR, the company’s US-based strategic advertising tracking service. The current owner and CEO, Thomas Steven Perakos, who founded the company, will continue to run it and will take responsibility for expanding its operations worldwide. Other key management will also remain with the business.
