Forrester Research, Inc. (Nasdaq: FORR) today announced that it has acquired certain assets associated with GigaGroup, S.A. for $3.9 million in total consideration. Headquartered in Paris, GigaGroup’s assets include 125 client companies and approximately $4.0 million of agreement value.
“The acquisition of GigaGroup provides Forrester with a stronger foothold in the European market, particularly in France and Switzerland,” said Robert W. Davidson, managing director, Europe. “The agreement allows us to continue our strategic expansion in Europe. It is perfect timing as we roll out WholeView 2™, our enhanced syndicated research product, globally.”
“This is great news for both companies,” said Bruno Tourme, chairman and CEO, GigaGroup, S.A. “Our quality analysts and sales team will provide Forrester with deep expertise in specific European markets along with new opportunities to sell Forrester’s compelling product offerings.”
Forrester acquired a minority ownership stake in and a distribution agreement with GigaGroup through its acquisition of Giga Information Group in February 2003. GigaGroup previously had exclusive distribution rights to sell Giga Information Group’s research in Benelux, France, Italy, Portugal, Spain, and Switzerland.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the potential success of WholeView 2 and other product offerings, Forrester’s ability to successfully integrate the acquired assets of GigaGroup, S. A., and the ability of Forrester to achieve success as the economy improves. These statements are based on Forrester’s current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include, among others, Forrester’s ability to successfully integrate the acquired assets of GigaGroup, S.A. into Forrester’s operations, Forrester’s ability to anticipate business and economic conditions, market trends, competition, the ability to attract and retain professional staff, possible variations in Forrester’s quarterly operating results, risks associated with Forrester’s ability to offer new products and services, and Forrester’s dependence on renewals of its membership-based research services and on key personnel. Forrester Research undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to Forrester’s reports and filings with the Securities and Exchange Commission.