The deal also includes its cross-device passive measurement subsidiary, Wakoopa.

Netquest has a strong presence in Spain, Portugal and Latin America so the acquisition allows GfK to expand, and add new, panels in these regions as well as building Netquest and Wakoopa’s global presence.

GfK said a key benefit of the acquisition is the immediate opportunity to expand GfK Crossmedia Link into the markets currently served by Netquest.

The acquired business will sit within GfK’s Consumer Experiences sector.

Matthias Hartmann, CEO of GfK, said: “This is the next step on our digitalisation journey. Both companies share the strategic view that passively measured behavioural data combined with other data sources will be key to delivering industry-leading solutions to clients around the world. "

Netquest has more than 1.3 million consumers in its panels in Latin America, Spain and Portugal. It was founded in 2001 and its headquarters are in Barcelona, Spain while Wakoopa is based in Amsterdam. The two companies currently have 220 employees.