First Research Swept into Hoover's

Business database giant D&B has bought Raleigh, North Carolina-based First Research for $22.5 million in cash, and will add it to its Hoover's business unit. The deal could be worth an additional $4 million for First Research shareholders.

Privately owned First Research will become part of Hoover's, which provides reports and information about both private and public companies and is widely used by investors, businesses and journalists.

'Our acquisition of First Research is another step in executing against our strategic growth plan for the future,' said Steve Alesio, Chairman and CEO of D&B (formerly Dun & Bradstreet). 'The acquisition supports our Internet strategy of growing Hoover's by better meeting the need for commercial insight among sales professionals.'

First Research provides Internet-based content, such as marketing research and industry trends, which is used by sales professionals. The firm has around 800 corporate clients, among which it counts nine of the world's ten top banks.

Bobby Martin, CEO and President of First Research and Ingo Winzer the firm's Executive VP of Research, launched the firm nine years ago. All 42 employees will remain with the firm.

First Research generated revenues of $6.5 million in 2006 – nearly 30% growth on its 2005 figures, while Dun & Bradstreet reported $1.5 billion in revenues for the year. The companies are online at www.dnb.com and www.firstresearch.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.