NeuroFocus Expands Into the UK and Europe Through Acquisition of Neuroco
World’s Leading Neurological Testing Company Purchases Leading UK Firm In The Fast Growing Field of Brainwave-Based Market Research
BERKELEY, Calif. – March 12, 2009 – NeuroFocus, the world’s leading company in the rapidly-expanding field of neuromarketing, announced that it has concluded an agreement to purchase Neuroco. The move marks NeuroFocus’ next step in its global expansion, following closely on the company’s rapid growth in the U.S. and the development of its business in Asia, where it has added major new clients in several key countries including Japan and Korea, among others.
NeuroFocus and Neuroco are both privately held companies. Terms of the acquisition were not disclosed. Neuroco will now become NeuroFocus Europe.
Headquartered in Berkeley, California, NeuroFocus ranks as the largest company offering brainwave-based marketing research to clients worldwide, including many Fortune 100 companies across a wide range of categories. The Nielsen Company is a strategic investor in NeuroFocus.
Based in Surrey, England, Neuroco will become the base of operations for NeuroFocus in the United Kingdom, and will continue to expand the application of EEG-based market research in the UK and across Europe. Neuroco’s clients include Sky Broadcasting and 20th Century Fox, and others in the automotive, consumer packaged goods, beverages, leisure, and retail sectors.
EEG-based neurological testing as conducted by NeuroFocus and Neuroco measures brainwaves to capture consumers’ levels of attention, emotional engagement, and memory retention. Additional metrics for persuasion, awareness, and novelty are derived from this data. The neuromarketing field has grown exponentially in recent years, as major companies have discovered the unique strategic advantages that authentic neurological testing offers.
“This combination marks the next step in our international growth, and it also reflects the global business community’s recognition that true EEG-based neurological testing is the only authentic, science-based market research that offers cost-effective, actionable results
with unmatched accuracy and relevance,” said Dr. A. K. Pradeep, founder and Chief Executive Officer of NeuroFocus. “We looked worldwide for a company with the same client-centric approach as us; and with the same scientific rigor, EEG-based brainwave testing technology, and deep marketing experience as NeuroFocus has. We found that in Neuroco.”
Drawn from recent research advances in neuroscience laboratories into brain disorders and conditions, neurological testing provides companies with the most accurate, reliable, and actionable knowledge about how consumers really respond to stimuli at the deep subconscious level of the mind.
That consumer knowledge is critical, because neuroscientific research has shown that the subconscious level is where initial purchase interest, purchase intent, and brand loyalty are formed. Full-brain EEG testing and analysis is the most accurate form of neurological testing, because EEG sensors acquire brainwave signals across as many as 128 separate sectors of the brain, at 2,000 times a second.
Both NeuroFocus and Neuroco also incorporate eye-tracking and galvanic skin response measurements to arrive at the most comprehensive understanding of how consumers respond to product design and packaging, branding, marketing, and how brands are perceived at retail.
NeuroFocus has been awarded numerous patents for its proprietary technologies and methodologies. The company also has the largest normative database of any neuromarketing firm, comprised of thousands of norms for advertising categories and products.
Neuroco principal Thom Noble assumes the title of Managing Director, NeuroFocus Europe and will lead the business expansion of NeuroFocus into the UK and other European markets. Neuroco Science Director Darren Bridges will assume the title of Director, Lab Operations, Europe and will coordinate scientific activity in the UK and European labs of NeuroFocus.
Commenting on the acquisition, Thom Noble said, “We are delighted and honored to become NeuroFocus Europe and bring the world’s gold standard of neuromarketing to clients in the UK and Europe. Our focus now is on blending our understanding of the unique needs of the UK and European markets with NeuroFocus’ knowledge, technology, expert staff, and marketing experience to provide unmatched products and services to our clients who are hungry for the economic benefits of neuromarketing in these troubling economic times.”
Peter Laybourne, who has served as Chairman of Neuroco, will collaborate with NeuroFocus Europe and continues in his role heading Fathom International Ltd., one of the world’s leading brand planning and research companies.
David Lewis, the earliest pioneer of neuromarketing in the UK and Neuroco’s Research and Development Director, will also collaborate with NeuroFocus Europe.
Both NeuroFocus and Neuroco were founded in 2005.