YouGov, the international research and data analytics group, has raised £51.2 million in a new share placing after agreeing a £300 million acquisition.

The London-headquartered market research company has swooped for the consumer panel business of German giant GfK.

The remainder will be financed by a fully committed bridge debt facility and cash on balance sheet, said YouGov.

GfK was ordered to sell its consumer panel business, which supplies data on consumption habits, by European antitrust regulators following the announcement of a merger between its parent company and NielsenIQ.

The deal is expected to complete in the second half of 2023.

“This transaction is important for us strategically, extending our offering further into the under-penetrated FMCG sector, bringing with it long-standing relationships with a blue-chip client base,” said Stephan Shakespeare, who co-founded YouGov in 2000 with Nadhim Zahawi, who would go on to become Chancellor and Conservative Party chairman.

CEO Shakespeare is set to move into a non-executive chair role on 1st August, when Meta executive Steve Hatch takes over.

Europe ‘set to challenge US for global tech crown’