Nomura Research enters India with 25.1-% stake in Market Xcel
08 Oct 2011
Japanese consulting services and system solutions provider Nomura Research Institute (NRI) is acquiring a 25.1% stake in market research firm Market Xcel Data Matrix to develop its consulting business in India.
NRI is one of the largest Japanese consulting firms, with about more than 600 professional consultants in Japan and abroad. NRI has clients among almost 70 per cent of the companies in the top 100 in terms of total capitalisation, during the past half decade in the Tokyo Stock Exchange.
This acquisition would enable NRI to establish a subsidiary in the Indian market and secure a research base in eight in India. This will enable NRI to form an indigenous and full-fledged organisation for research and consulting services.
Established in 2000 Market Xcel offers facilities for coordinating research throughout India, with its presence in Mumbai, Delhi, Bangalore and Kolkata and a network of field offices in 10 cities across the country.
"Based on our strong expertise in custom market research and our extensive reach across the country, we see an opportunity to broaden the scope of our business portfolio and team up with a brand that is on the fore-front of the research and consulting business," said Vishal Oberoi, CEO, Market Xcel in a media statement.
In the last 10 years, Market Xcel has worked extensively in sectors like automotive, healthcare and pharma, IT, telecom, FMCG, retail, banking and finance, media and social rural.
