Forrester Acquires JupiterResearch for $23m

In the US, technology research and consulting firm Forrester has acquired rival JupiterResearch and its parent company JUPR Holdings for $23m in cash plus assumed liabilities. In addition, Forrester has posted Q2 revenue of $63.5m, compared with $55.2m last year.

JupiterResearch has 83 employees and in 2007, revenues were approximately $14m. The firm, which is headquartered in New York City and has offices throughout the US and Europe, will join Forrester's Marketing & Strategy Client Group, which contributed $46.4m to Forrester's total revenue of $212m last year.

Like Forrester, JupiterResearch provides business professionals with syndicated research, analysis, and advice backed by proprietary data. It has a growing library of syndicated research and consumer data and specializes in market forecasting.

Forrester says that the acquisition will strengthen the insight, research, analysis, and advice it provides to Marketing & Strategy clients.

'Acquiring JupiterResearch is a significant step in our growth strategy,' comments Dennis van Lingen, MD of Forrester's Marketing & Strategy Client Group. 'JupiterResearch's established offering, well-respected research team, and strong sales organization solidifies our long-standing leadership position as advisors to Marketing & Strategy professionals worldwide.'

JupiterResearch President David Schatsky said on his firm's blog that he is excited to find himself in the 'affectionate embrace of our erstwhile competitor', and adds that Jupiter's employees will benefit by being part of a larger organization, with its commitment to employee growth and career development. The combined firms will now have more than 1,000 employees.

For the second quarter, Forrester has posted net income of $8.6m or $0.37 per diluted share, compared with net income of $4.5 m, or $0.19 per diluted share for the same period last year. The firm is forecasting total revenues of approximately $59.0m to $62.0m in the third quarter of the year.

Yesterday rival Gartner reported it had doubled its quarter two profit to $29.9m, compared with $14m a year ago.

Web sites: www.forrester.com and www.jupiterresearch.com .