San Diego —Market research firm Gap Intelligence, focused on the information technology, consumer electronics, imaging and home appliance industries, said Monday it has acquired Quixel Research, a market forecasting firm tracking the display and soundbar industries.
Gap said the acquisition will help expand its overall reporting services and expands its analysts’ expertise across nearly 25 industry segments.
Terms of the deal between the two privately held companies were not disclosed.
“Forecasting is underserved within market research. This acquisition not only enables us to dig deeper into today’s trends, but will influence our clients’ long-term strategies by helping them explain the why,” said Gary Peterson, Gap intelligence founder and president. “Quixel earned itself a wonderful reputation throughout the last 13 years. We’re confident that its current and new customers will be pleased with the quality, accuracy, and consistency Gap intelligence is able to bring as we rollout the enhanced service across multiple industries.”
Quixel will be re-branded “Quixel Research – a Gap Intelligence company,” but Peterson said his firm’s aim is to make the transition as seamless as possible for clients and reporting companies.
Since 2001, Quixel has built its business around the television, projector and soundbar markets.
“It’s going to be a slow process, but we want to make sure that we master the methodologies Quixel has used in the television, projector and soundbar markets,” Peterson told TWICE. “Once we’ve mastered those, the service of market sizing and forecasting is applicable to everything that we do. … We feel this market data and forecasting will be relevant to all the industries and products that we cover.”
He said Gap will blend Quixel’s unit shipment tracking and forecasting data with the data it had previously provided for TV self share, ad share and other areas within retail channels.
Deirdre Kennedy, Gap’s TV products market analyst, said her firm’s expanded capabilities will include a focus on the latest changing trends, including the emergence of Ultra HD TV with predictions of future movement, particularly regarding “how the holiday selling season is going to go.”
The Quixel leadership team will assist Gap in the transition to integrate forecasting capabilities into its current suite of services, the company said.
The acquisition comes on the heels of Gap Intelligence’s recent decision to bring data collection and software development entirely in-house.
“Doing so helps the company respond to the very complex and constantly changing IT, consumer electronics, imaging and home appliance industries,” the company said. “Gap Intelligence was recently named ‘Emerging Business of the Year’ by The San Diego Chamber of Commerce,” the company said.