25th May 2005 07:07
YouGov PLC25 May 2005 25 May 2005 YouGov establishes presence in the Middle East - signs exclusive media contracts YouGov plc (the Group), one of the UK's leading market research and opinionpolling companies, announced today that it has established a joint venturecompany, YouGov M.E FZ-LLC (YouGov ME) in the Middle East, and signed contractswith two of the leading media owners in the region. YouGov ME, as indicated in the Group's admission document has been indevelopment since before the Group's recent listing on Aim, will now conductmarket research and polling across the Middle East as well as providing itsmedia partners with detailed monthly surveys. The new company will be based inDubai, the commercial hub of the region. YouGov plc will own 52% of YouGov ME,with the remaining equity owned by local investors who have committed to investup to US$1 million by the end of December 2005. The funding will be used tobuild a regional panel, YouGov plc will provide its proprietary technology andmarket research know how. YouGov ME will undertake monthly custom research projects for Al NisrPublishing, publisher of Gulf News, the leading English Language newspaper inthe GCC region. It will also build a consumer panel and conduct monthly surveysfor ITP, the largest business and consumer magazine publisher in the MiddleEast. The Group has considerable experience in the Middle East having built a panel ofbusiness men and women for HSBC Bank Middle East. This panel is surveyed threetimes a year for the HSBC Middle East Business Confidence Index, which ispublished in the Middle East Economic Digest Magazine. Opening an office in the Middle East is consistent with the Group's strategy ofgrowing its business through selective acquisitions and organically, by applyingits knowledge of online polling and market research to new commercial andgeographical markets. Commenting on these developments Nadhim Zahawi, Joint Chief Executive Officer ofYouGov, said: "Extending our operations in the Middle East will provide considerable scope forgrowth in this dynamic region and is entirely consistent with the strategy forgrowth that we outlined at the time of our recent IPO. This joint ventureapproach also demonstrates the strength of the YouGov business and thescalability of our technology. "Our experience in the UK has demonstrated the importance of strong mediapartners and by signing deals with Al Nisr and ITP we are now placed to grow theYouGov brand in this market. "The internet has lead to fundamental changes in the way that market research isconducted at the same time that understanding people's behaviour, choices andattitudes is more important and valuable to marketers than ever before. Thesetrends, coupled with the accuracy and efficiency of our research tools, willsupport further growth from what is already a well-established base." ENDS Enquiries:Nadhim Zahawi, Joint Chief Executive 020 7618 3010YouGovCharles Palmer/Caroline Long 020 7831 3113Financial Dynamics This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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