WPP Scangroup Limited has reached an agreement to acquire a majority stake in Research and Marketing Group Investment Limited, which operates Kantar TNS, a leading market research agency, in several African countries.
WPP Scangroup currently provides market research services through Kantar Millward Brown. The proposed acquisition of Kantar TNS will enable WPP Scangroup to align the two market research businesses, leading to enhanced service for clients and increased operational efficiency.
Kantar TNS and Kantar Millward Brown are each part of Kantar Group, WPP Plc’s data management division and one of the world’s largest insight, information and consultancy groups.
Kantar TNS operates in Nigeria and Kenya, which are primary markets for WPP Scangroup, and other countries including Senegal, Cameroun, Cote d’Ivoire and Ghana.
The transaction is subject to approval by WPP Scangroup shareholders and Kenya’s Capital Markets Authority. Upon approval, WPP Scangroup will acquire the 70 percent shareholding in Research and Marketing Group Investment Limited, held by Russell Square Holdings BV
“The proposed acquisition of Kantar TNS presents a tremendous opportunity for business growth and investment in markets such as Nigeria and Kenya. The focus on research and data-driven operations perfectly fits our goal of providing horizontal, integrated communications services and products across the sub-Saharan region,” WPP Scangroup’s CEO Bharat Thakrar said
The proposed acquisition will increase WPP Scangroup’s presence and capability in the region and enable it to build a leading position in the market research business.