New York listing ‘not on the agenda’ for YouGov as it strikes biggest deal yet
The chief of data site YouGov has said that a previously ruminated listing in the Big Apple is “not on the agenda” right now, as it focuses on growth following the completion of its largest deal to date.
Steve Hatch told Morning Wire that, at the moment, a New York float is “not part of our consideration and it certainly hasn’t been in board discussions at all lately”.
Hatch took over as chief executive from Stephan Shakespeare last August, just after the former boss said he was mulling a New York listing, where he believes the markets are better.
Currently YouGov is listed on London’s AIM stock exchange, where its shares have risen 8.5 per cent over the past year. Shakespeare suggested both a primary or secondary listing in New York was on the cards.
“It’s worth remembering that the UK has been such a great home for us,” Hatch added, “and the US is our largest market, even without us listing there.”
It is also because the polling company just completed its largest acquisition yet, which it is now streamlining its efforts towards. YouGov has snapped up the Consumer Panel Services (CPS) business of GfK, a German research company that offers behavioural data on shoppers’ buying habits.
Announced in July 2023, the takeover deal is an all-cash transaction worth €315m (£271m), financed through a roughly £51m equity raise and a €280m (£241m) term loan facility.
Hatch said the deal comes at an opportune moment for YouGov, as it seeks to bolster its position in the FMCG industry and help its customers make more data-driven decisions.
“By being able to bring the two companies together, we’re able to help FMCG brands and retailers understand not only what people are thinking and feeling but what they’re buying as well,” he added.
YouGov will provide CPS GfK’s 1,100 clients with access to its consumer insights data and audience research.
The company, which operates in over 40 countries, also bought US-based data firm KnowledgeHound this week.
It is also plotting major growth this year, with the goal of increasing its margins to 25 per cent and overall revenues to £500m – and that is without the addition of CPS GfK.
YouGov is likely to release a revised growth number towards the end of this quarter.