Market intelligence provider Mordor acquires 51% in GMI Group

Mordor Intelligence, a Hyderabad-based market intelligence firm, has acquired a 51% equity stake in Pune-based Global Market Insights (GMI) Group. It plans to acquire an additional 25% by March 2024. GMI, which has a subsidiary in the US, has about 200 employees. It delivers syndicated and custom research reports for strategic decision-making to 3,000 clients globally. Mordor Intelligence employs about 550. The merged entity plans to expand the workforce to over 2,000 and target a turnover of INR 400 crore in the next five years, as against their current annualised revenue of INR 100 crore.