Forrester buys Jupiter Research

Analyst firm Forrester Research has purchased rival Jupiter Research for $23m.

The deal unites two of the major names in technology research and analysis. Both companies specialise in research and advice for IT firms and manufacturers.

Jupiter will be absorbed into Forrester's marketing and strategy client group, and both companies will operate under the single banner. Forrester plans to bring in all of Jupiter's employees and clients.

"Acquiring Jupiter Research is a significant step in our growth strategy for the marketing and strategy segment of Forrester's business," said Dennis van Lingen, managing director of Forrester's marketing and strategy client group.

"Jupiter's established offering, well-respected research team and strong sales organisation complement Forrester's and solidify our long-standing leadership position as advisors to marketing and strategy professionals worldwide."

Prior to the purchase, Jupiter had 82 employees. In 2007, the company logged revenues of roughly $14m.

Forrester has some 1,000 employees, and brought in around $212m in revenue last year.

Forrester chief executive George Colony attempted to ease any concerns from Jupiter clients that may be wary of the move.

"We value the strong, collaborative relationships we have with our clients and will continue to listen to you to ensure that we successfully deliver on your research needs," he said in a statement to customers.

"We are confident that Forrester plus Jupiter Research will generate ever higher value for you and your company."