The Corporate Executive Board (Nasdaq: EXBD) has agreed to acquire Iconoculture, a Minneapolis-based consumer research and advisory company. The deal includes an $18 million up-front cash payment plus possible earnouts. Iconoculture has raised over $16 million in VC funding from firms like Portage Venture Partners, Quatris Fund, StarTec Investments, General Mills, Winton Partners and VSP Capital.
The Corporate Executive Board announced that it has entered into a definitive agreement to acquire Iconoculture, a leading global consumer research and advisory company, earlier this week. The combined organization will strengthen the Corporate Executive Board’s footprint in the marketing function and provide marketing professionals and brand executives with a comprehensive view of the trends and values that influence consumer behavior.
“The addition of Iconoculture will strengthen The Corporate Executive Board’s ability to serve those organizations focused on understanding and marketing to today’s consumer,” said Haniel Lynn, General Manager of The Corporate Executive Board’s Sales, Marketing and Communications Practice. Lynn added, “The combined organization pairs Iconoculture’s uniquely integrated view of the global consumer with CEB’s unmatched member network and archive of best practices research and data, enabling customers to gain more comprehensive support on both market and organizational strategy issues.”
Gayle Fuguitt, Vice President of Consumer Insights at General Mills and a long-time client of both organizations added, “The thought leadership that The Corporate Executive Board has displayed around best practices, combined with Iconoculture’s detailed understanding of consumer trends and insights, will enhance the effectiveness of marketing professionals and brand executives at all levels of the organization.”
Offered as a separate service to The Corporate Executive Board’s traditional best practice focused research programs, Iconoculture’s annual subscription based advisory products provide:
— Access to IconoIQ, an interactive, searchable online content hub with access to real-time integrated consumer insights from proprietary and secondary sources
— Published consumer focused trends, observations and strategic research across seventy demographic, lifestyle and industry research coverage areas
— Unbiased advice and feedback on company and product specific marketing strategies through on call access to the industry’s largest team of consumer strategists
“The combined organization will provide leading marketing professionals and brand executives with a unified view of the consumer landscape,” said Dan Frawley, CEO of Iconoculture. Brad Hecht, Chief Operating Officer for Iconoculture, added, “We are excited to join The Corporate Executive Board and leverage their infrastructure and our combined research methodologies to introduce new consumer focused tools to the world’s top consumer oriented marketing functions and leading advertising agencies.”
Iconoculture, the leading global consumer research and advisory company, delivers the most comprehensive consumer insights — quickly and more cost effectively — to Fortune 1000 corporations and agencies. Iconoculture integrates consumer information from multiple data sources and combines it with expert interpretation and analysis by the industry’s largest Advisory Services team to produce targeted insights. We illuminate not only what’s important to consumers worldwide, but also why it’s happening and where it’s heading. For more information, contact Iconoculture at 1-866-377-0087 or visit us online: www.iconoculture.com.
About The Corporate Executive Board Company
The Corporate Executive Board drives faster, more effective decision making among the world’s leading executives and business professionals. As the premier, network-based knowledge resource, The Corporate Executive Board provides them with the authoritative and timely guidance needed to excel in their roles, take decisive action and improve company performance. Powered by an executive network that spans more than 50 countries and represents more than 85% of the world’s Fortune 500 companies, The Corporate Executive Board offers the unique research insights along with an integrated suite of exclusive tools and resources that enable the world’s most successful organizations to deliver superior business outcomes. For more information, visit www.exbd.com.