Gartner to Buy Meta Group
The purchase will expand the analyst firm's core offerings.Leading analyst firm Gartner and META Group, an information technology research and consulting firm, have reached an agreement under which Gartner will acquire META Group in an all-cash transaction valued at $10.00 per share, or approximately $162 million. The boards of directors of both companies have unanimously approved the agreement. Gene Hall, Gartners CEO, said in a statement: "This transaction is an exciting opportunity that will give us increased depth in key sectors, geographies and markets, and an increased ability to seize revenue opportunities with the addition of META Groups well-trained, successful sales force. In sum, the acquisition will make Gartner a stronger company with increased opportunities for growth and greater resources to offer clients."
Gartner said it does not expect the transaction to have a material impact on its 2005 operating results, excluding charges related to the integration of META Group, but expects it to be meaningfully accretive thereafter.