BSE-SME listed Bangalore based market research firm, Majestic Research Services and Solutions Ltd (MRSS) acquired the remaining stake of 30 per cent in its subsidiary company Emtee Research and Consultants Pvt Ltd and is expecting a return on its investment (ROI) of at least 36 per cent.
“I am highly confident in our teams’ ability to drive very significant levels of revenue and EBITDA growth in Emtee over the coming months”, Chairman of MRSS Raj Sharma told SMEpost.com.
He also added that the acquisition will significantly add to their top line and bottom line, but refused to comment on the value of acquisition.
Majestic had a stake of 70 per cent in Emtee, a digital marketing research firm. It bought the remaining 30 per cent of Emtee recently thus making Emtee a wholly owned subsidiary of Majestic MRSS.
As Emtee’s technology works on retail store levels, MRSS is expecting to leverage Emtee’s technology in FMCG vertical.
“As modern trade becomes increasingly important means of distribution for FMCG companies, we believe Emtee’s superior network conformity technology will drive greater volumes of business on our way”, Sharma said.
MRSS not only works on FMCG vertical, but also Automobile, ICT, Pharma, BFSI, and Media.
Commenting about the need of acquiring 100 per cent stake in Emtee, Sharma said, “In order to grow this business to its potential, we felt the need of flexibility of full ownership”.
Mukund Tripathy, founder of Emtee sold his stake and has exited the company.
MRSS conducts various studies in qualitative, quantitative and online market research and market tracking. It has client servicing offices in 12 countries across Asia staffed with research professionals and project managers to take care of research process and procedure in these countries.