Global market information services firms NielsenIQ and GfK (Growth from Knowledge) will merge following a definitive agreement that\u0026#039;s expected to close later this year or in early 2023.\r\n\r\nPowered by “state-of-the-art” cloud technology, the combination aims to bring together complementary data and analytics assets to provide a comprehensive view of shopper spending through a total store read, enabling brand and retailer clients to anticipate trends and react faster to consumer needs and expectations. The terms of the agreement were not disclosed.\r\n\r\nGfK’s position in technology and durables spanning 67 countries combined with NielsenIQ’s position in consumer goods measurements in 90 countries will expand beyond the companies’ traditional client industries as well as new market segments, according to a NeilsenIQ news release. Having a larger technology and operations talent base around the world will allow the combined company to bring new products to market faster and scale them to a broader set of markets and industries.\r\n\r\nThrough the combination of NielsenIQ’s cloud based Connect platform and omnichannel measurement technologies and GfK’s recently launched gfknewron platform, the company aims to be a leader in analytics. Its solutions will provide a “harmonized, granular and consistent view of consumer purchasing behavior across channels and categories, allowing for real-time decisions to enhance performance and fuel growth,” according to the release.\r\n\r\n\r\n“Over the past year, NielsenIQ has been investing both organically and inorganically in the most comprehensive coverage, advanced technologies and predictive analytics to enable our clients to have a complete understanding of their consumers,” said Jim Peck, executive chairman and CEO of NielsenIQ, in the release. “Together with GfK, we have the opportunity to influence the future of global retail and consumer measurement — one that is fast, nimble and connected.”\r\n\r\n“GfK has successfully navigated a digital transformation to profitable and sustainable growth over the last years. Joining forces with NielsenIQ is now the logical next step for us and will support the next stage of our company’s development,” said Lars Nordmark, Interim CEO and chief financial officer of GfK, in the release.\r\n\r\n\r\nWith this transaction, Advent International, which acquired NielsenIQ in 2021, will become the majority shareholder of the combined company.\r\n\r\n\r\n“We see tremendous potential to build on the two companies’ strong brands and cutting-edge platforms,” said Chris Egan, managing partner at Advent, in the release. “Drawing on our global footprint and operational strength, we aim to further scale the business and advance its position across established and emerging markets.”\r\n\r\n\r\nSince GfK’s spin-off from the Nuremberg Institute for Market Decisions (NIM) in 1984, NIM has been the company’s majority shareholder and will remain one of the key shareholders of the new combined company.\r\n\r\nAlongside NIM, KKR will stay invested in the combined company as a minority shareholder. The global investment firm took GfK private alongside NIM in 2017 to support GfK’s strategic transformation and future growth.\r\n\r\nUntil closing, NielsenIQ and GfK will remain independent companies.