Greenfield Online to be acquired in $426 mln deal

(Reuters) - Web-based marketing data company Greenfield Online Inc SRVY.O said media-focused U.S. buyout firm Quadrangle Group LLC would buy it for about $426 million, sending its shares up as much as 16 percent in morning trade.

The offer price of $15.50 a share in cash represents a premium of about 17 percent over Greenfield's closing price of $13.28 on June 13, the company said.

Shares of Greenfield were up at $15.17 on Nasdaq. Earlier in the session, they touched a high of $15.35.

Greenfield, through its Greenfield Online and Ciao websites and affiliate networks, collects, organizes and sells consumer opinions in the form of survey responses to marketing research firms and end users.

Deutsche Bank Securities Inc advised Greenfield on the deal, while Kirkpatrick & Lockhart Preston Gates Ellis LLP acted as its legal advisor. Simpson Thacher & Bartlett LLP acted as legal advisor to Quadrangle.

(Reporting by Bijoy Koyitty in Bangalore; Editing by Bernard Orr)