[Press Release] Sale of 80% of Ipsos Comcon LLC - Ipsos' subsidiary in Russia
MWN-AI** Summary
On February 27, 2026, Ipsos SA announced the completion of the sale of 80% of its wholly owned subsidiary, Ipsos Comcon LLC, to Direct Investments JSC, a Russian company led by investor Andrei Malyshev. This strategic move aligns with changes in Russian law that restrict foreign ownership in market research companies. The law, effective March 1, 2026, limits foreign and dual-citizenship stakeholders to a maximum of 20% equity.
Ipsos Comcon LLC plays a significant role in the Russian market, serving over 500 clients and employing 600 individuals. Despite its substantial local presence, Ipsos Comcon accounted for roughly 2% of Ipsos’ total revenues in 2025. The decision to divest a majority stake was driven by a commitment to comply with local regulations while ensuring the continued operation of the subsidiary in Russia. Ipsos will maintain a 20% minority stake in the company, which will be deconsolidated from the group accounts as of January 1, 2026.
As part of the transition, effective February 28, 2026, Ekaterina Ryseva will step down as General Director, with Sergey Evstratkin, the current CFO, taking over her role. Ryseva will remain with the company to support its operations and staff. This leadership change is intended to provide stability and continuity for Ipsos Comcon LLC and its employees amid the ownership transition.
Ipsos SA, founded in 1975 and publicly traded since 1999, operates in 90 markets globally and employs nearly 20,000 people. The company is committed to delivering insights and understanding consumer behavior through its research and analytics capabilities.
MWN-AI** Analysis
Ipsos SA’s recent divestment of 80% of its Russian subsidiary, Ipsos Comcon LLC, represents a strategic shift in response to evolving regulatory demands and the geopolitical landscape. This sale, finalized on February 27, 2026, responds to Russia's new law limiting foreign ownership in market research firms, demonstrating Ipsos’ proactive compliance with local regulations while preserving its presence in the Russian market.
From an investment perspective, this move signifies a potential reduction in risk associated with operating in highly regulated environments. By divesting the majority stake, Ipsos can mitigate exposure to potential market volatility and maintain operational efficiency without bearing the majority of the risk and financial uncertainty associated with foreign ownership laws. The remaining 20% stake allows Ipsos to retain some influence, while the operational control shifts to Direct Investments JSC, led by a notable local investor, Mr. Andrei Malyshev.
The implications for Ipsos’ market position are twofold. Firstly, this strategic pivot allows the company to redirect resources and focus on its core markets and competencies without the burden of regulatory constraints in Russia. Secondly, maintaining a minority interest ensures access to the market insights provided by Ipsos Comcon, which are critical for global strategy formulation.
For investors, this transaction could be seen as a prudent move that emphasizes the company’s flexibility and adaptability in a fluctuating market landscape. It also reflects Ipsos' commitment to compliance and sustainability in its operations, which will resonate positively in investor sentiment.
Going forward, stakeholders should monitor Ipsos’ performance metrics post-divestment, focusing on growth trajectories in other markets and evaluating the impact of this strategic decision on overall revenue composition. This divestment could potentially position Ipsos more favorably in global markets, aligning its operational strategy with long-term sustainability goals.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Sale of 80% of Ipsos Comcon LLC
Ipsos’ subsidiary in Russia
Paris, February 27, 2026 – Ipsos SA' Board of Directors announces the Closing of the sale of 80% of Ipsos Comcon LLC, its wholly owned subsidiary in Russia to Direct Investments JSC.
Ipsos ComCon LLC serves 500+ clients through the talents of its 600 employees and occupies a leading market research position in Russia. Its revenues represented approximately 2% of Ipsos’ global revenues in 2025.
Direct Investments JSC is a Russian company owned by Mr. Andrei Malyshev, preeminent investor and successful businessman in Russia.
Ipsos SA always had and will always keep its priority on its clients’ needs and the well-being of its employees, with respect to the culture and in compliance with the Laws and regulations of each country and territory where it operates.
In the context of the amendment of a Russian Federal Law voted on July 15th, 2025 by the Russian Parliament, and enforceable by March 1st, 2026, foreign and double citizenship owners of companies performing Market research in Russia shall not have more than 20% equity and control of such companies.
In consultation with the relevant Authorities and since December 2025, Ipsos SA has fulfilled the conditions required for a divestment of 80% and agreed to welcome Direct Investments JSC as majority shareholder in Ipsos ComCon LLC. On February 26th, 2026, the Russian Governmental Commission deliberated in session and approved this transaction.
On February 28th, Mrs Ekaterina Ryseva will step down from her position of General Director, to be replaced by Mr Sergey Evstratkin (current Chief Financial Officer of Ipsos Comcon LLC). Mrs Ryseva will stay in Ipsos ComCon LLC to ensure an essential role to the employees and to the business.
By this decision, Ipsos ComCon LLC will continue to operate in Russia without services discrepancy and provide stability for our Russian employees.
Ipsos SA will keep its 20% minority passive participation in Ipsos Comcon LLC, which will be deconsolidated from the group accounts starting January 1st, 2026.
ABOUT IPSOS
Ipsos is one of the largest market research companies in the world, present in 90 markets and employing nearly 20,000 people.
Our passionately curious research professionals, analysts and scientists have built unique multi-specialist capabilities that provide true understanding and powerful insights into the actions, opinions and motivations of citizens, consumers, patients, customers or employees. Our 75 solutions are based on primary data from our surveys, social media monitoring, and qualitative or observational techniques.
“Game Changers” – our tagline – summarises our ambition to help our 5,000 clients navigate with confidence our world of rapid change.
Founded in France in 1975, Ipsos has been listed on the Euronext Paris since 1 July 1999. The company is part of the SBF 120, Mid-60 indices and is eligible for the Deferred Settlement Service (SRD).
ISIN code FR0000073298, Reuters ISOS.PA, Bloomberg IPS:FP
www.ipsos.com
35 rue du Val de Marne
75 628 Paris, Cedex 13 France
Tel. +33 1 41 98 90 00
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FAQ**
How does the sale of 80% of Ipsos Comcon LLC to Direct Investments JSC align with Ipsos IPSOF's overall strategy in the Russian market amidst changing laws?
What measures will Ipsos IPSOF take to ensure the stability and well-being of employees during this significant transition in ownership of Ipsos Comcon LLC?
With Ipsos IPSOF retaining only a 20% minority stake, what impact will this have on its decision-making abilities within Ipsos Comcon LLC post-sale?
Can Ipsos IPSOF elaborate on how this divestment will affect its financial performance, given that Ipsos Comcon LLC represented about 2% of its global revenues in 2025?
**MWN-AI FAQ is based on asking OpenAI questions about Ipsos (OTC: IPSOF).
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