Cobalt Sky takes 25% stake in Discovery's Thinking Shed
UK— Discovery Group, owner of Discovery research, has sold a 25% stake in its online qualitative evaluation tool, The Thinking Shed to technology specialists Cobalt Sky.
The deal makes the tool a separate limited company, three years after it was first launched. Major clients such as Shell will be unaffected by the transition and Discovery will retain 75% of the business, according to a statement.
Discovery Group co-founder Ken Parker says the deal is an ‘important development [that] will allow us all to be proactive in the future development and continued success of the tool”.
Cobalt Sky specialises in providing IT services to the market research industry. Its managing director Raz Khan says the partnership with The Thinking Shed “is a great opportunity to broaden our scope… [and] will enable us to provide leading-edge solutions that meet the needs of this dynamic industry.”