Ipsos weighs binding offer to buy Kantar Media, sources say

Ipsos SA

29/11/2024 17:51

By Amy-Jo Crowley
       LONDON, Nov 29 (Reuters) - French market research group
Ipsos  ISOS.PA  is preparing a binding offer to buy the TV
ratings data business from market research group Kantar, two
people with knowledge of the matter told Reuters.
    Ipsos, with headquarters in Paris and a market value of 1.9
billion euros ($2 billion), is working with advisers as it lines
up financing for Kantar Media ahead of a deadline next week, the
people said, who spoke on condition of anonymity because the
matter is private.
    There is no certainty a deal will materialise and other
private equity firms such as Cinven are expected to also pursue
the sale, the people said. 
    Spokespeople for Ipsos, Cinven, Kantar and its shareholders
WPP and Bain Capital, declined to comment.
    Kantar Media could be valued at 1 billion pounds ($1.27
billion) in a deal, one of the people said.  
    A driver for the potential combination is that Ipsos and
Kantar Media have overlapping customers and operations across
Europe, the person said. They have a partnership in audience
measurement in certain countries such as the Netherlands,
according to a company press release. 
    Kantar Media manages the UK’s TV audience measurement
system, known as Barb, and provides audience measurement across
broadcast, print and outdoor media in 62 countries.
    Ipsos provides consumer market research services, operating
in 90 markets and employing nearly 20,000 people. In its
half-year report, it had 282.5 million euros of cash and cash
equivalents at the end of July.
    Kantar Media is a division of Kantar Group, which is jointly
owned by Bain Capital and UK advertising group WPP Group. WPP
sold a 60% stake in Kantar to Bain in 2019, valuing the company
at 3.2 billion pounds at the time.
    JPMorgan and Jefferies have been advising the shareholders
on the sale of Kantar Media, the people said.  JPMorgan declined
to comment. Jefferies did not respond to a request for comment. 
($1 = 0.9479 euros)

($1 = 0.7864 pounds)

 (Reporting by Amy-Jo Crowley
Additional reporting by Mathieu Rosemain n Paris 
Editing by Anousha Sakoui and Tomasz Janowski)
 ((Amy-Jo.Crowley@thomsonreuters.com;))