Majestic Research Services and Solution (MRSS) has acquired 100% stake in Singapore-based market research company Market Probe Asia Pacific from its US parent-Market Probe Inc. in an all cash deal. The acquisition of Market Probe Asia Pacific will act as a gateway to Asia specifically growth markets such as Indonesia, Thailand and Vietnam.

Market Probe Asia is a full service research agency with full time staff strength of around 50 and has over 800 projects under its belt across public, private and government sectors. It is one of the select few market research firms licensed to undertake Singapore government projects valued at SGD 10 million. The agency has completed 15 years of business excellence in Singapore.

Shares of the company declined Rs 6.10, or 1.28%, to trade at Rs 470.30. The total volume of shares traded was 18,600 at the BSE (11.45 a.m., Monday).