Nielsen can measure television audiences and radio audiences, and it would like to add the ability to obtain insights into the customers the media serves – and to that end, it has an agreement to acquire noted research firm Harris Interactive.
Nielsen is making a tender offer to acquire all of the outstanding share of HI for $2/share, subject to adjustment, in a deal that HI’s board has already approved.
According to the Associated Press, terms of the deal work out to an acquisition price of about $116.6M.
John J. Lewis, President, Americas, Nielsen, stated, “For our existing CPG and media clients, our combined capabilities will provide better and more integrated insights to help them drive business outcomes. Harris Interactive’s strength with other industry verticals allows us to serve these clients with Nielsen’s differentiated solutions in areas such as marketing effectiveness, social and digital to achieve our growth objectives.”
HI President/CEO Al Angrisani added, “This announcement reflects the successful completion of the turnaround strategy that we began in July 2011 and will deliver to Harris Interactive stockholders meaningful value and liquidity immediately upon closing. By combining Nielsen’s global capabilities and scale with Harris Interactive’s extensive industry and research expertise, we’ll be able to drive outcomes and innovate to bring new methods to understanding consumers around the world. We look forward to beginning an exciting new chapter for Harris Interactive, our customers, partners and employees following the transaction.”
What exactly is Nielsen getting? We’ll let Harris describe it: “Harris Interactive is one of the world’s leading market research firms, leveraging research, technology, and business acumen to transform relevant insight into actionable foresight. Known widely for the Harris Poll® and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client’s research investment. Serving clients in more than 196 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us – and our clients-stay ahead of what’s next.”