US-based Forrester Research has struck a deal to buy SiriusDecisions, a leading business-to-business research and advisory firm, for $245 million in cash.
Forrester works with business and technology leaders to build customer-obsessed strategies, while SiriusDecisions focuses on optimising marketing, sales, and product operations.
“The combined value of Forrester’s strategic and SiriusDecisions’ operational capabilities will help our clients change and grow in tumultuous times,” George Colony, Forrester’s Chairman and CEO said in a statement on Tuesday.
Together, the two companies will enable companies to know what they should do, why they should do it, and how to do it, Forrester said.
This deal opens up a number of opportunities for Forrester expansion in areas including cross-selling of services, accelerating international growth plans, expanding SiriusDecisions’ platform, methodologies, data, and best-practices tools to new roles, and expanding SiriusDecisions to new vertical markets.
“The addition of SiriusDecisions is expected to add approximately $100 million to Forrester’s revenue in 2019 on a pro forma basis,” said Michael Doyle, Forrester’s Chief Financial Officer.
The transaction is expected to close in January 2019 and is subject to the satisfaction of customary closing conditions, including applicable regulatory filings.