Information Resources Inc., commonly known as IRI, and The NPD Group have signed an agreement to merge, creating a major data provider in the retail space.
Both IRI and NPD provide data, technology and analytics across many sectors, including beauty and apparel.
The goal of the combination is to create a leading global data provider that can offer clients a more full picture of retail and purchasing habits, the companies said.
Hellman & Friedman, a private equity firm that owns a majority position in NPD, is buying a majority stake in IRI with plans to merge the businesses together. IRI investors Vestar Capital Partners and New Mountain Capital will remain invested in the combined company.
The deal is expected to close in the second half of the year, and terms were not disclosed.
Together, NPD and IRI plan to work with brands and retailers to develop better service options for customers, respond to trends and grow their businesses.
In a statement, IRI president and chief executive officer Kirk Perry said the merger brings IRI expertise that it does not have, and that together, “IRI and NPD will have innovative technology, analytics, data resources, talent and geographic reach to best support the growth of the world’s leading brands and retailers.”
Evercore, Goldman Sachs and Guggenheim advised IRI on the deal, while Jefferies advised NPD and H&F.
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