IQ buys Rossyln Research after £0.85m share placing

UK-- Business research firm IQ has raised £850,000 from its first placing on the London Stock Exchange's Alternative Investment Market, with much of the proceeds going towards its first acquisition – of b2b specialist Rosslyn Research.

IQ completed the buyout of Rossyln for a total of £600,000 in cash and shares, doubling its headcount to 16 full-time employees. Rosslyn's managing director Joe Seydel will join the board of IQ.

Julian Green, IQ's managing director, said the acquisition “significantly expands” the firm's quantitative capabilities and customer base, and creates opportunities to cross-sell services to a wider clientele.

Green told Research: “We'll deliver organic growth by building research products designed for particular industries, and we'll also be making selective acquisitions, initially within the UK.”

IQ's clients are mainly large UK companies including high street banks, insurance firms and government agencies. Rosslyn's clients include 3M, Coca-Cola and Mars.

Author: Robert Bain