The new brand for the combined business has yet to be revealed but Market Strategies and Morpace will be fully integrated with headquarters in Michigan.

STG (Symphony Technology Group) already owns insights-orientated businesses such as IRI, Simmons Research, Symphony Health Solutions, AlphaImpactRx, Hitwise, and Evidera.

J.T. Treadwell, managing director, STG said: “Morpace and Market Strategies are complementary firms regarding culture and industry coverage, and we believe that both firms will gain from the others’ capabilities. We look forward to helping them accelerate their current plans of leveraging technology and software-driven analytics into high quality customer engagements.”

Duncan Lawrence, president and CEO, Morpace said: “According to the American Marketing Association, our collective firm will become the 15th largest market research firm (based on total revenue) in the US with more than 450 research consultants. STG was attractive as a partner due to its success in the industry and demonstrated track record in applying technology to transform insights-oriented businesses.”

Market Strategies president Melissa Sauter added: “This merger benefits our clients and employees in so many ways. When you add in our combined firm’s deep industry knowledge, the result is better solutions and capabilities that continue to challenge our employees and help organisations solve complex business and marketing challenges.”

The financial details of the deal were not disclosed. Independent investment bank, JEGI, represented Market Strategies International and Morpace in the transaction.