NielsenIQ (NIQ) and GfK SE (GfK) have completed their strategic combination to form a new consumer intelligence company, which will be led by James Peck, the CEO of NielsenIQ.
The move will see the two companies join forces to provide clients with thorough and innovative solutions, NIQ and GfK said in a statement.
The combined entity will help retailers and brands uncover pathways to sustainable growth by offering an in-depth understanding of consumer buying behaviour, they added.
'More Actionable Insights'
James Peck, CEO of NielsenIQ said, "Together, we are powered by more—more global reach, more omnichannel coverage, more granular data, more consumer-sourced insights, and more predictive analytics, which add up to more actionable insights and growth for our customers.
"Most importantly, we are bringing together innovative industry experts and complementary cultures driven by integrity and the relentless pursuit of delivering the highest quality at all times."
The NIQ-GfK merger follows a series of investments to drive sustainable growth for the clients and the merged company.
Comprehensive Data Assets
The new entity plans to set up a global cloud-native platform as it seeks to offer comprehensive data assets, intuitive business intelligence tools for granular market reads, predictive analytics powered by generative AI and authoritative data science.
The company will maintain operational footholds in Chicago, USA, Nuremberg, Germany, and Geneva, Switzerland.
Lars Nordmark, interim chief executive officer and chief financial officer of GfK said, "GfK and NIQ share an unyielding dedication to our clients. Existing and future clients can trust that our nearly 200 years of combined experience in the industry, underpinned by state-of-the art technology and a commitment to new coverage, will provide an unrivalled view that empowers them to make critical decisions with confidence and drive their business forward."
GfK divested its European Consumer Panel business to YouGov to secure EU antitrust clearance for the merger.