Online market research company MetrixLab announced today that it has acquired MarketTools Research Solutions, an online market research services and software provider, from TPG Growth. Financial terms of the deal were not disclosed.
MetrixLab will continue to operate MarketTools Research Solutions under the MarketTools brand name, led by its new CEO, Simon Kooyman, who also serves as CEO of MetrixLab USA.
"I am excited that two market-leading innovators in online market research, MetrixLab and MarketTools, have joined forces," said Kooyman in a statement. "The MarketTools offering is now extended with MetrixLab solutions for digital and cross-media research and customer experience management."
Kooyman replaces MarketTools former president and CEO Scott Arnold, who will stay on with MarketTools, according to a company spokesperson. Requests for information about Arnold's new role were not answered.
TPG Growth, a subsidiary of the private investment firm TPG Capital, acquired MarketTools last December through an agreement with SurveyMonkey, a Web-based survey vendor. Under the agreement, TPG Growth gave MarketTools' Zoomerang, ZoomPanel, and TrueSample divisions to SurveyMonkey in exchange for MarketTools' Research Solutions and CustomerSat businesses and a minority stake in SurveyMonkey.
TPG Growth will continue to offer the MarketTools CustomerSat platform, a Web-based enterprise feedback management solution.
Based in Rotterdam, Netherlands, with offices in New York, London, Paris, and other cities, MetrixLab's services include online and cross-media campaign tracking; advertising pretesting; online concept, prototype, and packaging testing; Web site user testing; customer satisfaction research; and more. Its clients include Microsoft, Google, Philips, Coca-Cola, Heineken, and other global enterprises.
MarketTools is based in San Francisco. Its research services are supported by an advanced analytics team and a suite of market research software.
As more customers interact with brands through social media, the market research industry has undergone significant changes with marketers exploring new research methodologies. "I believe that marketers are looking for a new-generation insights provider with a strong digital DNA and a global infrastructure to support them in today's complex decision making," observed Han de Groot, CEO of MetrixLab. "We can now provide our industry-leading clients…with truly global servicing, access to a global consumer community, and advanced new research technologies in social and mobile."
As a result of the acquisition, MetrixLab now employs more than 400 marketing research professionals in the U.S., Europe and Asia, operates 13 offices worldwide, and generates annual revenues of $80 million.