ZF Ventures invests in 'well-positioned' Harris Interactive

By Lisa Kerner

Charlotte, N.C., Nov. 1 - Harris Interactive, Inc. investors led by ZF Ventures, LLC acquired 5,001,031 shares of the company's common stock between July 19 and Nov. 1 at an average purchase price of $4.37 per share for a total purchase price of $21.9 million and a 9.4% stake in the company.

The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

ZF Ventures believes that Harris is "well positioned to leverage its key assets to provide clients with high quality custom market research on a global basis, using both traditional and internet-enabled technology," the filing stated. In addition, the investors believe the company has "substantial intrinsic value and the potential to achieve both significant revenue growth and increased profitability as a leader in its market."

Harris is a Rochester, N.Y., market research, polling and consulting firm.

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