Angus Reid polling firm sold for $100 million

The Angus Reid Group, Canada's largest polling firm, has been sold to Ipsos, a Paris-based market research company, for $100 million.

Angus Reid Group had been privately owned by its employees and other investors, including the Crocus Labour-Sponsored Investment Fund.

In a release, Angus Reid Group CEO Angus Reid said "A key motivation behind this agreement is the opportunity to address the multinational research needs of our clients, who include some of the largest global brands in the world."

Ipsos has 1,500 employees worldwide, but no presence in Canada. Reid called Ipsos "the ideal strategic partner" for his company. Angus Reid Group has 300 full-time and 800 part-time employees.

The deal, which is set to close within 30 days, calls for Angus Reid's current management team to run Ipsos' North American division under the name Ipsos-Angus Reid.

Angus Reid will still run the company's Canadian and U.S. operations.