Last checked at 15 Jan 2020 07:00
15 January 2020
YouGov plc
("YouGov" or "the Company")
Update Regarding Acquisition of SMG Insight
- Accelerated performance of SMG Insight brings forward earn-out options -
- Rebranded as YouGov Sport to reflect the completion of the integration -
YouGov, the international research and data analytics group, announces a variation to the terms of its acquisition of SMG Insight which was announced on 24 May 2018. This variation relates to the reduction in timescale of the earn-out period and YouGov's ability to acquire the business in full against those terms.
Since the announcement of the acquisition in 2018, SMG Insight has delivered strong results which are ahead of plan. It is expected SMG Insight will reach the terms of the earn-out clause ahead of the original indicated timeframe. To reflect this outperformance, and in order for YouGov to maximize the value we can build upon this strong progress, the Company will complete the acquisition in full ahead of schedule.
The deferred consideration for SMG Insight amounts to £13.2m and will be paid over two equal tranches, with the first being made on 15 January 2020 and the second on 31 May 2021, the anniversary of the former earn-out period. The total aggregated consideration for the acquisition will amount to £18.0m.
As previously announced, SMG Insight specialises in media measurement and sponsorship evaluation in the sports sector. Following the completion of the integration, SMG Insight has been rebranded as YouGov Sport.
Stephan Shakespeare, CEO of YouGov, commented:
"We are delighted that our proposition in the sports sector is already proving to be a great success. The completion of this deal will allow us to more effectively build on this momentum. Today's announcement reflects the strength of the opportunity that YouGov Sport has within the market and our successful strategy of aligning differentiated products and services, including sector-specific offerings, in a single connected data system."
Enquiries:
YouGov plc
Stephan Shakespeare / Alex McIntosh 020 7012 6000
FTI Consulting
Charles Palmer / Elena Kalinskaya 020 3727 1000
Numis Securities (Nomad and broker)
Nick Westlake / Hugo Rubinstein 020 7260 1000