THE MARTIN Sorrell-led quoted media giant WPP Group has succeeded in its long-running bid to to acquire market research firm Taylor Nelson Sofres.
One of the conditions of the deal is that WPP sells Dublin-based market research company TNS MRBI to satisfy a requirement from the European Commission's competition arm.
It will, however, be allowed acquire TNS Worldpanel's Irish research business.
WPP already has extensive research interests in Ireland in the form of leading consumer research agencies Millward Brown IMS and Lansdowne Market Research.
It is understood that a management-led buyout, headed by MRBI's managing director Damian Loscher, could be considered.
German research company GFK is also expected to be a potential bidder for MRBI.
Although financial details for MRBI are somewhat sketchy, it employs about 40 staff here and is thought to earn revenues of about €7 million.
It is believed to operate off profits margins of 13-14 per cent.
In a statement released to The Irish Times, Mr Loscher said he was confident that the European Commission had made the right decision.
"Research is about providing clients with insights, but it is also about providing an objective view," he said.
"For the research industry it is especially important that one view does not come to dominate.
"This ruling protects competition and promotes independent research in Ireland," Mr Loscher added.
WPP, which also has PR and advertising interests in Ireland, said yesterday that it had already received 81.78 per cent of acceptances from TNS shareholders and has declared its offer unconditional.
MRBI is the longest-established market research agency in the Republic and specialises in telecoms, media and polling research.
WPP is the world's second-largest advertising and marketing group by revenue.
It expects to achieve savings of £52 million a year by 2011 following the deal.
