The deal was first agreed in January this year and Intage said that it will use the acquisition as a springboard to broaden its operations in China. The firm already had an office in Shanghai, but said the addition of Hyperlink would allow it to expand its activities to Beijing and Guangzhou before focusing on “second and third tier cities and rural areas”.

Intage said the acquisition would allow it to expand its client base to European blue-chip companies as well as local Chinese businesses.

Fredy Bush, Xinhua Sports and Entertainment’s CEO, said that the group sold off its research arm because it wanted to focus on publishing and broadcasting.

“While Hyperlink has continued to build on its reputation as a leading market research company in China,” she said, “we have decided to focus our resources on sports and entertainment. We believe this transaction provides the best environment for both XSEL and Hyperlink to achieve a new level of success.”