NEWS1 July 2011

GfK chief rules out bidding for Synovate

Europe M&A

GERMANY— GfK chief executive Klaus Wübbenhorst today ruled the company out of bidding for Synovate, saying it was not the right target and did not fit with the agency’s strategy.

Speaking to Research, Wübbenhorst said: “Our strategy is a strategy that does not need Synovate.”

GfK rival Ipsos is currently in exclusive talks about acquiring Synovate from its parent company, the media service group Aegis.

There have been recent reports in the press quoting unnamed sources as saying GfK might look to muscle in with its own bid, but Wübbenhorst was clear about his company’s intentions.

He said: “Based on our strategy and based on what Synovate could offer in line with our strategy, we are not going for Synovate. We think Synovate is not the right target for GfK, especially given the amounts that are being discussed in the market.” Press reports suggest any deal might be in the region of £520m.

Research was speaking to Wübbenhorst about his company’s new ‘Own the future’ strategy. Read the full interview here.