FoneWorx buys into market research company
FoneWorx, a listed telecoms and IT solutions provider, says it has acquired a 44% stake in market research company, Living Facts, for an undisclosed fee.
Living Facts was formed in 2001 as a market research corporation providing Quantitative and Qualitative services.
The acquisition is subject to the completion of a due diligence which is anticipated to be completed in two weeks, Foneworx said.
The group noted that the three senior directors of Living Facts have a collective experience of 50 years in research and offer specialist analytics, data processing and statistical services.
“Whilst continuing to grow its own client base, Living Facts will contribute tremendous value to the FoneWorx Knowledge 350 degrees consultancy by assisting clients in better understanding customer needs, perceptions and realities,” Foneworx said by way of rationale for the purchase.
“FoneWorx will in addition provide technical and mobile services to Living Facts thereby creating a symbiotic relationship.”
Living Facts clients include blue chip companies including those in financial services, logistics, strategy, on-line, cosmetics and technology.
Foneworx said it will will continue to look at other similar acquisitions in the development of this new strategic direction and the accumulation of the necessary skill sets.
Having reported a 32% rise in group revenue for the six months ended 31 December 2013, to R63.2 million, Foneworx said it was optimistic about the next six months to its financial year end in June 2014.
“We believe that ‘knowledge’ will become the next intellectual property for corporations, specifically as there has been a dramatic move to one-to-one marketing which has been facilitated by the massive roll-out of smart devices enabling consumers to access information that is relevant to them as and when required,” Foneworx said.
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