21 January 2008
LONDON — Global market research firm Synovate today announced the acquisition of CIMA Group (CIMA), one of Latin America's leading independent research companies.
With 120 staff and headquarters in Santiago, Chile, CIMA is a full service custom market research firm that operates across six markets in Latin America including Chile, Colombia, Peru, Ecuador, Bolivia and Costa Rica. Like Synovate, its clients cross all industries and include some of the world’s major companies.
Synovate's Global CEO Adrian Chedore said the acquisition of CIMA triples Synovate's presence in Latin America, which is the world's second fastest growing research market after China.
"With double-digit growth over the past few years, Latin America has become a key region in the global research arena. CIMA's custom research expertise, strong management team and presence throughout Latin America nicely complements Synovate's existing Latin America business in Brazil, Mexico and Argentina."
Chedore added: "CIMA has an excellent reputation in the industry and among several of our global clients. We're thrilled to welcome them to the Synovate family."
Added Synovate Iberia & Latin America CEO Ignacio Galceran, "This acquisition allows us to fully integrate our account services for clients throughout Latin America. Additionally, the entrepreneurial spirit of the CIMA team closely aligns with Synovate's culture, which will help us continue to successfully grow our business in this market."
President and Founding Partner of CIMA Pablo González Vicente said, "The acquisition of CIMA by Synovate makes good business sense for both companies. It continues our commitment to excellence and innovation, and our clients will benefit greatly from Synovate's global reach and specialist expertise."
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