The agreement will see Ipsos transfer its assets in Bolivia to Ciesmori, with Ipsos retaining a minority stake of 20% in the overall company.

Both entities will then operate under the brand name Ipsos Ciesmori.

Ipsos said that it hoped Ipsos Ciesmori would combine Ipsos’ worldwide reach and knowledge with Ciesmori’s authoritative position in Bolivia and strong client base.

Ipsos has been operating in Bolivia since 2007, when it acquired the research company Apoyo.

Ciesmori was formed in 2017 through the merger of Cies Internacional and Equipos Mori, which had both been operating in Bolivia for more than 25 years.

Jean-Christophe Salles, chief executive of Ipsos in Latin America, said: “Joining forces with Ciesmori is a great opportunity for our clients and our employees. Ipsos Ciesmori will establish as an undisputable leader in the market.” 

Marcelo Mercado, president at Ciesmori, said: “By associating Ipsos’ world-class solutions and technology and Ciesmori’s extensive knowledge of the Bolivian market, we will become a key player in the research industry.”