Harris Interactive the market research firm based in Rochester, NY has acquired Wirthlin Worldwide, an opinion research and consulting firm based in Reston, VA.
According to Harris, the deal was completed through a combination of cash and stock valued at $41.8 million. Harris issued 3.5 million shares and paid $20.4 million in cash.
This acquisition is projected to generate $50 million in annual revenue for Harris, including $40 million of revenue in fiscal 2005.
“We are well on our way to achieving our goal of becoming a $500 million strategic market research firm in the next five years,” said Robert E. Knapp, CEO of Harris Interactive, in a statement.
Richard B. Wirthlin the founder of the acquired firm has been named to Harris Interactive’s board of directors.
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