New Delhi: Business process outsourcing (BPO) major Genpact on Thursday said it will acquire media and business research firm EmPower Research for an undisclosed amount.
Genpact has signed a definitive agreement to acquire EmPower Research, which has strong capabilities in social media research, media monitoring and measurement, Genpact said in a statement.
This acquisition will add significant expertise and intellectual property to Genpact’s Smart Decision Services business, comprising analytics, research, re-engineering and risk management services, it added.
The deal is expected to close by the end of the month, subject to the satisfaction of certain customary conditions, it said.
“EmPower Research, a front-runner in social media with a uniquely process-driven culture, strong domain expertise and high-caliber senior management team, is a fantastic fit for our business, with numerous cross-sell opportunities, particularly in the pharmaceutical and consumer packaged goods (CPG) industries,” Genpact president and chief executive officer (CEO) N. V. ‘Tiger’ Tyagarajan said.
With the explosion of activity on social media platforms, companies increasingly feel the need to keep pace with current trends to understand consumer preferences and perceptions toward their products and services.
EmPower Research provides a comprehensive range of services including social and traditional media monitoring and measurement, event impact research, brand tracking and data management.
EmPower Research serves some of the largest pharmaceutical companies, public relations (PR) agencies, technology firms, and CPG companies in the world, the statement said.
“We are seeing a significant increase in demand for our Smart Decision Services and EmPower Research adds tremendous capabilities in extracting insights from social media, a fast emerging source of data about consumer behavior,” Tyagarajan said.
EmPower Research has about 360 employees based in New York, Bangalore, Cincinnati, New Jersey, San Francisco and London.
“We are incredibly excited to become part of the Genpact team,” EmPower Research co-founder and managing partner Debjani Deb said.
EmPower Research was jointly represented by Jordan Edmiston Group, Inc (JEGI), and Veda Corporate Advisors on the transaction. While Veda is an India-based mid-market investment bank, JEGI is a New York City-based investment bank serving the media and information industries.