(Sharecast News) - Market research and analytics specialist YouGov announced the acquisition of KnowledgeHound, a US-based survey data management solution, on Monday.
The AIM-traded company said the move aimed to enhance the capabilities of YouGov's Crunch survey analytics platform, catering to the specific needs of large brands.
It said KnowledgeHound, based in Chicago and founded in 2014, operates as a software-as-service (SaaS)-based search-driven analytics platform.
KnowledgeHound specialises in connecting and transforming structured data from various systems, consolidating them into a single, accessible location.
It primarily serves Fortune 500 companies across diverse industries, including FMCG, pharmaceutical, technology, insurance, and media.
The board said the acquisition would enable YouGov to integrate KnowledgeHound's enterprise survey data analysis and visualisation capabilities with the analytics YouGov Crunch offers.
It explained that the synergy would facilitate in-depth exploration of complex survey data, providing valuable brand insights.
KnowledgeHound's platform, known for data discovery, integration, and report productisation, would complement YouGov's analytical prowess, offering a comprehensive solution for brands seeking to maximise the value and impact of their consumer data.
"YouGov's acquisition of KnowledgeHound represents a significant shift in what the industry should expect from data analytics platforms," said chief financial officer Alex McIntosh.
"By adding KnowledgeHound - a leading search-based survey data analysis solution - to YouGov Crunch - the ultimate tool for granular data analysis - we will make it easier than ever before to get fast, actionable, reliable insights all in one place."
At 1031 GMT, shares in YouGov were up 0.44% at 1,150p.
Reporting by Josh White for Sharecast.com.
YouGov (YOU)