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NFO Research Inc. completes acquisitions of Migliara/Kaplan Associates and Plog Research; announces 3 for 2 stock split.

GREENWICH, Conn.--(BUSINESS WIRE)--Jan. 9, 1995--NFO Research Inc. (NASDAQ:NFOR) Tuesday announced that it has completed the acquisitions of Migliara/Kaplan & Associates, Inc. and Plog Research, Inc. on terms in accordance with those previously announced.

At the same time, the company announced a 3 for 2 stock split, payable Feb. 5, 1996 to shareholders of record on Jan. 22, 1996.

Migliara/Kaplan is one of the nation's leading full-service healthcare marketing information companies, with offices in Baltimore, Maryland and Princeton, New Jersey. Migliara/Kaplan's client list includes 16 of the 20 largest pharmaceutical firms in the United States.

NFO acquired 100% of the outstanding stock of Migliara/Kaplan & Associates Inc. and substantially all the net assets of Chesapeake Surveys Inc. (CSI), a sister company of Migliara/Kaplan which provides data collection and survey services. The total purchase price, payable in cash and stock, was approximately $15.2 million, of which $3.75 million is payable based upon Migliara/Kaplan's earnings over the next three years.

Plog Research Inc., with headquarters in the Los Angeles area, is the nation's leading travel industry marketing research organization. The company provides marketing and forecasting services to the travel and tourism industries, including virtually every major U.S. airline and many of the nation's leading hotel chains, rental car companies, cruise lines and resorts.

NFO acquired 100% of the outstanding stock of Plog Research Inc. for a purchase price, payable in cash and stock, of approximately $6.65 million, of which $1.6875 million is payable based upon Plog's earnings over the next three years.

The company also announced that its board of directors has declared a 3 for 2 stock split, payable Feb. 5, 1996 to shareholders of record on Jan. 22, 1996. The stock split will increase the common stock outstanding to approximately 10.1 million shares. Certificates evidencing the new shares resulting from the stock split will be issued and mailed on Feb. 5, 1996 together with checks in lieu of fractional shares.

William E. Lipner, chairman and chief executive officer of NFO, said, "We are delighted to have Migliara/Kaplan, CSI and Plog Research officially become part of NFO. These are outstanding companies in their respective areas of specialization -- Migliara/Kaplan and CSI in health care and Plog Research in travel -- and all will contribute to NFO's growth over the coming years."

Lipner added, "We now have completed four domestic acquisitions over the past two years, as well as initiated a European joint venture. These acquisitions have enabled NFO to expand and diversify our service offerings into new, higher growth markets beyond our traditional packaged goods capabilities.

These new areas of health care, financial services, telecommunications, information technology and travel will represent about half of NFO's business going forward. This represents a significant diversification of NFO's business since the company's initial public offering in April of 1993."

NFO Research Inc. is a leading provider of market research services using the world's largest pre-recruited consumer panel consisting of 475,000 households and over 1.2 million people. The company provides its services to over 500 clients, including 44 of the largest 100 companies of the Fortune 500 list, 23 of the top 25 U.S. bank holding companies, and 16 of the nation's 20 largest pharmaceutical firms.

CONTACT: Patrick G. Healy

Executive Vice President-Finance and CFO

203/629-4627
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Publication:Business Wire
Date:Jan 9, 1996
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