Business
Update Regarding Acquisition of SMG Insight
Update Regarding Acquisition of SMG Insight.
About this update from Yougov Plc
[{"type":"text","content":"\n \nRNS Number : 8019Z YouGov PLC 15 January 2020 \n\n15 January 2020\n \nYouGov plc \n(\"YouGov\" or \"the Company\")\n \nUpdate Regarding Acquisition of SMG Insight\n \n- Accelerated performance of SMG Insight brings forward earn-out options -\n- Rebranded as YouGov Sport to reflect the completion of the integration -\n \nYouGov, 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. \n \nSince 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. \n \nThe 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.\n \nAs 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.\n \nStephan Shakespeare, CEO of YouGov, commented:\n\"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.\" \n \n \nEnquiries:\n \nYouGov plc\nStephan Shakespeare / Alex McIntosh  ...