YouGov Plc, a London-based online market research agency, has acquired C. Horizons LLC (trading as Clear Horizons), a New Jersey-based market research firm, for up to $2.7 million (£1.9 million).

YouGov Plc, a London-based online market research agency, has acquired C. Horizons LLC (trading as Clear Horizons), a New Jersey-based market research firm, for up to $2.7 million (£1.9 million).

The acquisition expands YouGov’s presence in the US and is expected to be earnings enhancing in the current financial year.

Commenting on the deal, YouGov chief executive Nadhim Zahawi said: “This acquisition fits our defined strategy for expanding our US business and will provide immediate benefit by utilising our excellent online panel. There is a good fit between Clear Horizons’ research capabilities and our data collection and product offerings such as BrandIndex. This expansion will help us in achieving our goals in the USA and provide a solid foundation for future organic growth.”

YouGov reported an increase in turnover of 20 per cent to £22.6 million, with pre-tax profits of £2.4 million.

Zahawi added: “Trading conditions became more challenging towards the end of the first half-year due to the economic climate, and this, coupled with an expanded cost base, resulted in a disappointing performance.

“We have taken firm action to address the decline in profitability by reducing operating costs and terminating some activities. In doing so, we have improved the focus of the group while continuing to invest selectively in innovative online research services and products.”