One of the most well-known shopper and retail data companies in the industry is getting a new name and a new owner.
Just days after announcing Nielsen Global Connect was being rebranded as NielsenIQ, parent company Nielsen Holdings revealed the consumer and retail measurement company was being sold to the private equity firm Advent International, in partnership with James “Jim” Peck, former chief executive officer of TransUnion, for US$2.7 billion.
Nielsen Holdings announced last November its plan to split its two core businesses—media measurement and its shopping and retail data business—into two distinct publicly traded companies.
“The sale of this business to Advent will deliver substantial value sooner than was anticipated through the planned spin-off and creates certainty for all stakeholders,” said Nielsen Holding CEO David Kenny. “At the same time, we are excited about this opportunity for Nielsen Global Connect and believe that moving forward as a private company will better position the business to accelerate its transformation and strengthen its market-leading position.”
In announcing the rebranding last week, Nielsen IQ CEO David Rawlinson said the new look—which includes a new logo featuring a vibrant splash of bright green—was symbolic of a larger strategy to reinvigorate the business to meet changing needs of its clients in a fast-changing consumer landscape.
“Unveiling our new brand is one of many actions we are taking as part of our blueprint for modernizing our client experience, while continuing to be the global leader in delivering complete consumer intelligence,” said Rawlinson, who was hired as CEO of what is now NielsenIQ in January.
“Nielsen Global Connect is the gold standard in retail measurement, with exceptional insights and unrivalled scale and coverage of the global CPG and retail markets,” said Peck in a release announcing the acquisition. “We intend to work with David Rawlinson and the talented management team to accelerate the delivery of new capabilities and to continue the transformation underway to build an innovative, high-performing culture acutely focused on delivering value to customers around the world.”
In a video introducing NielsenIQ last week, Rawlinson said the company is being reshaped to meet the needs of its customers in a fast-changing world, who need not just deep data about their consumers but the insights and context to guide their decisions.
“The way we do that is by delivering the complete truth, an unrelenting pursuit of the most comprehensive data sets. A commitment to making sure all consumers, of every type and background, are seen,” he said. “Our core strength is the ability to simplify the complexity of this data, and shine a light on powerful insights that enable bolder, more confident decision making.”
Rawlinson said the changes to the company reflect feedback and learning he’s gathered since taking the job in January. “I heard a few things loud and clear: Expand your coverage; move more quickly; innovate: help illuminate a world being changed quickly by e-commerce. Finally, move from just data, to insights,” he said.
“We took that feedback seriously and acted,” said Rawlinson.“We’ve restructured the business to provide for dedicated end to end leadership and innovation around the products you told us you needed the most.”