Taylor Nelson Sofres PLC
13 May 2002
Taylor Nelson Sofres extends operations in Greece
Taylor Nelson Sofres, a world leader in market information, is entering into a
joint venture with one of Greece's leading information and consulting services
companies, ICAP A.E.
The joint venture company, to be known as TNS ICAP A.E., will provide market
information to clients in sectors including Consumer, Telecoms, Automotive,
Banking and Finance.
TNS ICAP will benefit from ICAP's strong market position in Greece and the
Balkan region and from its in-depth local knowledge and expertise in
business-to-business solutions. Taylor Nelson Sofres will enter into a licensing
agreement with the joint venture, allowing TNS ICAP to use the group's Branded
Solutions in the Greek market.
TNS ICAP will have 22 full time employees and its main office will be in Athens.
ICAP's existing clients include McDonalds, Vodaphone, Bank of Greece, Commercial
Bank of Greece and Alpha Bank.
Taylor Nelson Sofres will have a 51 per cent holding in the new company, with
the balance being controlled by ICAP, which is putting its research division
into the joint venture. The Managing Director of the joint venture will be
Helena Chari, who currently heads ICAP's market research division. In 2001, the
turnover of the division was approximately Euro 1.3 million. It is anticipated
that the new joint venture company will be established by the end of June 2002.
Taylor Nelson Sofres currently participates in television audience measurement
in Greece and that business will continue to operate separately.
Commenting on this new venture, Mike Kirkham, Chief Executive of Taylor Nelson
Sofres, said: "Until today, our activities in Greece have focused only on TV
audience measurement; now we have the opportunity to extend them more widely.
ICAP has developed a good market information business, which in future will have
the advantage of being part of an international, specialist market information
Dimitris L Maniatakis, Managing Director of ICAP, added "Taylor Nelson Sofres
was a clear choice as our partner for the future. We will benefit from access to
Taylor Nelson Sofres' extensive global network and the ability to offer our
clients an enhanced range of services and market-leading Branded Solutions."
For further information, please contact:
Mike Kirkham, Chief Executive
+44 (0)20 8967 4022
Janis Parks, Investor Relations Manager
+44 (0)20 8967 1584
Margaret George, Citigate Dewe Rogerson
+44 (0)20 7638 9571
Email to: Janis.Parks@tnsofres.com
Note to editors
About Taylor Nelson Sofres
Through its international network of 230 offices in more than 50 countries,
Taylor Nelson Sofres provides market information services in over 80 countries
to national and multi-national organisations. It is ranked as the fourth largest
market information group in the world. Further information on Taylor Nelson
Sofres is available from the corporate website: www.tnsofres.com
ICAP is the largest financial information and consulting services company in
Greece. With the biggest data bank of commercial and financial information,
together with its range of consulting services, ICAP offers integrated products
and services covering the needs of business information, organisation and
management, development, market research and human resources services. ICAP also
operates the largest database in the Balkans. Key shareholders of ICAP are Alpha
Bank, Greece's largest privately owned bank, Commercial Bank, Greece's second
largest publicly owned bank, and COFACE, one of the world's largest export
credit insurers and financial information companies. Further information on ICAP
is available from the corporate website: www.icap.gr
This information is provided by RNS
The company news service from the London Stock Exchange