Japan’s largest consulting firm Nomura Research Institute has acquired 25.1 percent stake in Delhi-based Market Xcel Data Matrix for an undisclosed amount.
Khaitan & Co. advised Nomura with a team led by Partner Rajat Mukherjee.
Mori Hamada & Matsumoto acted as Japanese legal counsel with a team led by Partner Chisako Takaya.
Market Xcel was advised by its in-house team.
This acquisition will help Nomura expand its research and consulting business activities to India. The firm is also establishing an Indian subsidiary, Nomura Research Institute India, with a capital of Rs. 41 crore, to develop the consulting business in the country. The Indian subsidiary will begin operation next month. Initially, it will have around 10 people on board but the number will rise to around 30 after five years. The Indian unit will prepare business strategies for Japanese companies in the automobile industry and also for those in other segments, according to VCCircle.
Dealcurry reports, Market Xcel was founded in 2000 by R Vishal Oberoi and Manish Narang, and specialises in consumer and corporate surveys using face-to-face, CATI, online, depth and desk techniques. The company employs around 94 staff from offices in New Delhi, Mumbai, Chennai, Kolkata, Bangalore, Hyderbad, Ahmedabad and Pune, as well as operations in Singapore.