Enero Group has sold market research agency The Leading Edge and online research firm The Digital Edge as part of a refinement of its business portfolio which includes BMF, Orchard, Hotwire, CPR and OBMedia.
The businesses, and 200 staff, have gone to independent research consultancy Fiftyfive5.
The combined businesses contributed 1.7%, or $2.7 million, of Enero Group net revenue for 2021 and 1.4%, or $1.3 million for the six months to December.
Enero Group will receive cash of $1.35 million and recognise a nominal gain on the transaction.
CEO Brent Scrimshaw says the sale demonstrates ongoing commitment to executing against a progressive portfolio growth strategy.
“We will continue to invest in the capabilities of our core brands and remain relentlessly focused on cross-geographical growth and refining our portfolio of global brands and services," he says.
Fiftyfive5 CEO Mark Sundquist: “We know the team at TLE and TDE well and they bring a lot to our business which we are excited about.
"Having ownership of a panel and panel capability opens up a range of really interesting opportunities for us - from building out bespoke sub-panels of hard-to-reach audiences, to integration of panel and transactional data. Ultimately, this gives us the freedom and flexibility to innovate in approach.”
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