WPP makes market research acquisition

7th Sep 2011 09:22

Advertising giant WPP, led by chief executive officer Martin Sorrell, has acquired market research technology firm Global Market Insite (GMI) for an undisclosed sum.GMI will be aligned with Lightspeed Research, a division of WPP's wholly-owned information, insight and consultancy group Kantar, which provides global online research panels and products."The acquisition of GMI adds panels in 13 countries, bringing Lightspeed Research's global reach to over four million online panelists across proprietary panels in 38 countries," WPP said.GMI achieved revenues of $64m in 2010, with gross assets of $26m on 31 December.Shares in WPP rose 3.12% to 610.50p by 09:46.BC