TAYLOR NELSON SOFRES PLC
2 August 1999
Taylor Nelson Sofres acquires major Dutch market information group
Taylor Nelson Sofres, one of the world's leading market information
companies, announces that it has further strengthened its international
network through the acquisition of NIPO, the largest market information group
in the Netherlands.
An initial payment of NLG 42.0 million (£12.7 million) was made on completion
to the former shareholders of Integres Holding B.V., the holding company of
the NIPO group. The consideration was satisfied by NLG 38.9 million (£11.8
million) in cash and the balance by the issue of 585,098 new ordinary shares
in Taylor Nelson Sofres plc. The new ordinary shares, which will represent
0.16 per cent of the issued capital, will be issued credited as fully paid
and will rank pari passu in all respects with the existing ordinary shares.
In addition, two deferred payments, dependent on the level of profit after
tax and totalling no more than NLG 68.0 million (£20.6 million), may be made
in 2000 and in either 2003 or 2004.
In the year ended 31 December 1998, the company being acquired had turnover
and profit before tax of NLG 72.7 million (£22.0 million) and NLG 4.5 million
(£1.4 million) respectively and net assets at that date of NLG 36.3 million
Tony Cowling, Taylor Nelson Sofres Executive Chairman, said:'This
acquisition gives Taylor Nelson Sofres the leading position in another
European market and reinforces our position as one of the major global
providers of market information. We are delighted to welcome NIPO to the
All figures have been translated into £ sterling at the rate of £ = NLG 3.30.
Information on NIPO
NIPO group provides a full range of research and analysis services to a broad
range of blue chip multi-national companies, government and non-profit
organisations. It operates principally in the Benelux countries but also has
a wholly-owned subsidiary in Hong Kong and employs over 300 people.
Approximately 30 per cent of its 1998 turnover related to research conducted
internationally or for international clients.
NIPO is the leading provider of customer satisfaction, customer loyalty and
mystery shopping research in the Dutch consumer markets, as well as having an
60 per cent of the Dutch business to business market. It is also strongly
represented in the telecommunications, media and financial services sectors,
where Taylor Nelson Sofres is a world leader.
NIPO has a strong reputation for its innovative approach to market research
activities and has been a driving force in expanding and deepening the
research market. The company has pioneered the application of new
technologies and continues to focus its research and development activities
in this increasingly important area.
Most recently, it launched the first PC/Internet-based Computer Assisted
Personal Interviewing in the Netherlands, a growing service which currently
has access to 8,300 households. It has developed dedicated market research
software for Computer Assisted Telephone and Personal Interviewing (CATI and
CAPI) and now licenses its software packages for data collection, processing
and analysis to some 150 companies in 39 countries around the world. In
addition, NIPO has successfully developed a number of branded research
Founded in 1945, NIPO B.V., which accounted for over 92 per cent of the
group's turnover in 1998, has more than 50 years of sustained sales and
NIPO's well-proven and established senior management team, which has
successfully developed the business in recent years, will be staying with the
group and Theo Hess, Managing Director, will be joining the Taylor Nelson
Sofres Executive Committee.
Tony Cowling, Taylor Nelson Sofres Executive Chairman, said:'We are
delighted to welcome NIPO, one of the great names in European market
research, into the group.'
'The acquisition gives us a major presence in this key market - one of the
largest users of market information in the world. NIPO has a high-quality
customer base, including a number of Netherlands-based multi-nationals and,
through the worldwide Taylor Nelson Sofres network, we will increase greatly
its opportunities for international business.
'NIPO's innovative approach to product development and its fully-automated
data collection capabilities fit well with Taylor Nelson Sofres' emphasis on
high technology and the development of branded research services. We are
excited that another excellent company is joining our group and look forward
to benefiting from an exchange of ideas and skills with its highly-
experienced management team.'
Theo Hess, Managing Director of NIPO, added: 'As our leading clients
increasingly pursue global sales and marketing strategies, a growing
proportion of market research is being commissioned on an international
scale. To develop the full potential of NIPO's people and services, we
wanted to become part of a global organisation.
With so much in common between us, and our shared co-operation within the
Gallup International Association, Taylor Nelson Sofres was the obvious
For further information, please contact:
Tony Cowling, Executive Chairman +44 (0) 1372 803 403
David Lowden, Finance Director +44 (0) 181 967 4009
Ted Vonk, Director Research Development,
NIPO +31 20 522 5910
Janis Parks, Investor Relations Manager +44 (0) 181 967 1584
Alex Brown, Citigate Dewe Rogerson +44 (0) 171 638 9571
Note to editors
Through its network of over 100 offices in more than 30 countries, Taylor
Nelson Sofres provides market information services to leading national and
multi-national organisations operating in over 80 countries. It is ranked as
the world's fourth largest market information group.
NIPO B.V. was founded in 1945. In 1996, it was sold by its co-founders to
the management and employees, at which time the holding company Integres
Holding BV was created. In the same year, Integres acquired Veldkamp,
founded in 1958, which has a strong market position in the media sector.
Subsequently, it took an interest in companies in Luxembourg and Hong Kong.
NIPO was a founding member of Gallup International in 1947 and of the
European Society for Opinion and Marketing Research (ESOMAR), in 1948.