Network, a research company headquartered in Paris, has taken up a 75 per cent stake in Indica Research, an independent Indian marketing research company, with a view to increasing the holding in the future.
Indica Research, which specialises in marketing and advertising research and research for customer relationship management, achieved a turnover of Rs 14.6 crore last fiscal. Founded in 1994 by a team of senior professionals in the market research sector, Indica Research has three managing directors, VG Pillai, V Ravi and B Nary Narayanaswamy.
Richard Mecchi, CEO, Ipsos, Asia Pacific, says, "We are delighted to welcome Indica Research to the Ipsos group. It was important to reinforce our presence in a country where market research grew by 17 per cent in 2006. We share with Indica Research the same strong commitment to build a successful strategic relationship with our clients, and working with them will allow us to serve our clients better across the region."