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UK's YouGov acquires Siraj Marketing and Consultancy

DUBAI - YouGov, the UK's leading online polling and market research company, has acquired Dubai-based Siraj Marketing and Consultancy to create a 'regional powerhouse' in the burgeoning research industry in the Middle East, said YouGov joint CEO and co-founder, Nadhim Zahawi.

He also said he is looking at acquisition possibilities in the US, where YouGov has limited representation.

After acquiring Siraj for about $2.18 million (Dh8 million), he said: "We are very excited about the deal and the future," and added, "Siraj is an established company with a great reputation. It would be successful anywhere in the world. The founders are all seasoned researchers."

The new business, to be known as YouGovSiraj, brings together complementary strengths — YouGov's cutting edge techniques in quantitative polling and online research with Siraj's regional market leadership in qualitative consumer research.

YouGov opened an office in Dubai in 2004 from which it offers research services across the Middle East. In partnership with HSBC and the Middle East Economic Digest (MEED) it created the region's first business confidence index.

Using the latest technology to pioneer a system to ensure highly accurate sampling methodology, YouGov polls are now recognised as the most accurate in the world, said Zahawi. "We have one per cent error across 11 different projects. These include local and general elections as well as television programmes like Pop Idol," he said.

In the UK, YouGov clients include a range of national newpapers, Channel 4 Television and accountancy practice, KPMG. The business floated on the London Stock Exchange in May last year, having been founded in 2000. It also produces the YouGov Brand Index, which monitors 1149 consumer brands against seven different measures, such as consumer satisfaction and corporate reputation. A similar index could be compiled for this region, said Zahawi.

Nassim Ghrayeb, CEO of newly formed YouGovSiraj, said Siraj started in 1999, predominantly as a quality boutique, trying not to replicate what others were doing and catering specifically for the consumer. Services range from custom and CSR related research to predicting social and political trends.

"Our idea was to undertake customised research so that the consumer was not represented by stereotypes," he explained. Siraj has already set up regional panels with 20,000 participants so far. This number is set to rise to 75,000 by the end of the year.

He also said there was a "lot of growth" in market research across the Middle East and that much of it was coming from local players, especially those in the real estate, finance and FMCG industries, who wanted to look at spending and behaviour patterns of the end consumer. And although business- to-business research is smaller that sector too is expanding.

The regional hub for the enlarged group is Dubai and the plan is to expand across the GCC. "We do work from Iran to South Africa and would look seriously at opening an office in Saudi Arabia," said Zahawi. There are between 20 to 25 staff in the combined company and this number is likely to double in coming months he added. There is also the possibility that a deal will be struck with a local TV channel to conduct research on social trends and issues in the UAE.