London - TNS, the world's leading consumer insights consultancy and a WPP company (WPP: NASDAQ), has agreed to acquire Sinotrust Market Research, a leading market research and consulting company in China, subject to regulatory approval.
Sinotrust Market Research is the industry market leader in automotive market research in China. Its offering includes consumer research, product research, brand research, channel research and customer information analysis. Sinotrust Market Research has a blue-chip client list that includes leading automobile companies. Founded in 1992, Sinotrust Market Research employs 350 people in Beijing, Shanghai and Guangzhou with unaudited revenue for the year ended 31 March 2013 at RMB 255 million, with gross assets at the same date of RMB 95 million.
Chris Riquier, CEO of TNS Asia Pacific stated, “China is now entrenched as the largest automotive market in the world and the acquisition of Sinotrust will give TNS China clear market leadership to serve international and local automotive manufacturers and distributors as they seek to grow their business in China.”
Lin Lei, CEO of Sinotrust Market Research added, “TNS will allow Sinotrust to offer our clients TNS’s world class solutions for brand and communications, innovation, and customer satisfaction research. In addition, many Chinese automotive manufacturers are expanding their business internationally and we can better support them through TNS’s global network which covers over 80 markets worldwide.”
TNS has a strong presence in China, with a team of over 600 people providing insights to clients from five offices across the Greater China area. The two companies will continue to operate as distinct businesses, under the Asia Pacific leadership of Chris Riquier. Sinotrust’s current owners will maintain a minority stake in the company.
TNS is part of Kantar, the information insight and consultancy arm of WPP.