The creation of the holding company will see no changes in ultimate ownership of the three companies, nor will there be any changes in how the subsidiaries are branded or structured.

Statco will act as a group of companies operating in the data and research industries and will be led by chief executive Kaspar Jänes. 

The new company will employ more than 150 people in eight markets in northern Europe, with Rait present in Sweden, Estonia, Latvia and Lithuania, Dive based in the Nordics, Baltics and Poland while Intra has a presence in 70 countries.

Jänes said: “The aim is to create a roof organisation that would simplify discussions with clients and partners who are interested in the wider scope of Statco businesses.

“The companies will keep operating under their respective brands and there are no plans for individual rebranding.”

Dovilė Končak, chief executive at Rait, said: “The market research sector is highly competitive and in order to assure our clients the best services, we must have all the needed intellectual and technical solutions.

“Being able to identify as part of Statco and reach out to our sister companies will make us more competitive.”

Kerli Soosaar, chief executive at Dive, said: “As a mystery shopping company, Dive is operating a specialist market research brand – this sometimes seems niche for clients looking for a holistic approach.

“As Statco we will make around €10m revenue in 2022; this means that together we are one of the largest multinational research players in northern Europe.”