BILENDI: Bilendi acquires the respondi group, a European player in data collection for market research
Bilendi acquires the respondi group,
a European player in data collection for market research
Paris, November 22sd, 2021 – Bilendi, a European leader in research and data technologies, has entered into an agreement to acquire the respondi group. respondi is a key player in data collection for market research with some of the main online panels in Europe.
With this strategic decision, Bilendi is taking a significant step forward in its development and further strengthening its position on the three largest European markets: Germany, France and the United Kingdom. The new entity will benefit from a European presence of local teams, an online panel of the highest quality, innovative technologies and an exceptional investment capacity to offer the best solutions to its customers.
âWe are very happy and proud to welcome respondi to the Bilendi group. Its recognized expertise in the research market, the respect and reputation of its team and its technologies are all formidable assets that will enable us to pursue our strategy of growth and conquering new markets. The two groups have similar cultures and share the same values: constantly striving for the best quality of service for our clients while maintaining the integrity and respect of our panel members, ” declares Marc Bidou, Chairman and CEO of Bilendi
âWe are delighted with this merger, which allows us to join one of the main players in technological research and data in Europe, with strong growth and strong ambitions. Together, we have the strength to accelerate our development and gain new market shares “, adds Dr Otto Hellwig, CEO of respondi.
respondi: a major player in data collection in Europe
Founded in 2005 in Cologne, Germany, by Dr Otto Hellwig, respondi is an international player dedicated to collecting data for market research in Europe.
With a team of 80 people, the company is established in 3 countries: Germany (with 60% of 2020 turnover), France (25%) and the United Kingdom (15%).
respondi has an established reputation in the industry, with highly qualified panels and a portfolio of over 550 clients, including universities and scientific research centers, where it occupies a leading position with over 200 clients.
In 2021, respondi expects to generate a turnover of 15 million euros (+ 17%) and an EBIT of 1 million euros.
Strengthening of Bilendi’s top 3 on the European market
This merger will create one of the leading players in technology and market research data in Europe.
respondi has high quality panels in Germany, France, UK, Switzerland, Austria and Italy with around 450,000 active panelists. By combining the Bilendi and respondi panels in these countries, the new entity will have a unique offering – both in terms of panel size and quality – to collect increasingly complex and highly qualified data.
The new entity will serve nearly 1,800 prestigious clients, including research agencies, design offices, universities, research centers and media agencies.
This merger will allow Bilendi to further strengthen its proximity to its clients, with the most important teams in the sector on the German, Swiss and Austrian markets via offices in Cologne, Berlin and Zurich as well as on the French market. Merger will significantly strengthen Bilendi UK team
With this acquisition, Bilendi will increase its growth potential in new market segments and will take another important step in its strategy of developing technological solutions for its clients.
A highly value-creating operation
The integration of respondi will allow the Bilendi group to generate multiple synergies:
- Offers: reinforced panels, extended qualitative research offer and a reinforced team of more than 350 experts.
- Technology: the combination of respondi and Bilendi proprietary technologies.
- Financial: economies of scale will be achieved, and significant cost savings achieved by optimizing external purchases.
Bilendi’s goal is to align respondi’s profitability with that of the rest of the Bilendi group over the next 24 months.
Terms and financing of the operation
The operation includes the acquisition of 100% of the capital of respondi. The minimum transaction price will be 15.95 million euros, which can reach 20.50 million euros with the addition of price supplements, which are payable until 2024.
The acquisition will be financed by a bank loan of 12 million euros and existing liquidity reserves and will take effect in the coming weeks after certain closing conditions have been met.
The commitment of the top management, Dr. Otto Hellwig (CEO) and Orkan Dolay (COO), a similar culture and shared values ââwill be essential for the success of the joint project.
2021 outlook: 2 years ahead of the 2023 revenue target
With two years in advance, Bilendi will achieve his goal achieve an annual turnover of 50 million euros by 2023.
Bilendi will pursue its development strategy combining organic growth and acquisitions.
At a time when the volume, variety and speed of data transmitted and exchanged increase exponentially, Bilendi provides an innovative and technological solution for its collection, management and use. Bilendi is positioned at the heart of data collection for two market segments: Technologies and services for market research and Technologies and services for customer engagement and retention. The group is present in France, United Kingdom, Germany, Italy, Belgium, Spain, Sweden, Finland, Denmark, Switzerland and Morocco, as well as activities in Austria and Norway. In 2020, Bilendi achieved a turnover of 34.1 million euros. The group is listed on Euronext Growth Paris.
ISIN code: FR0004174233 – Mnemo code: ALBLD – Eligible for PEA PME – Qualified “Innovative company” by BPIFRANCE.