Forrester Research, Inc. (Nasdaq: FORR),a leading provider of research and analysis on the Internet and emerging technologies, today signed an agreement to acquire Frankfurt-based Forit, GmbH, the No. 1 Internet research firm in Germany, Austria, and Switzerland.
“German-speaking markets are poised to be a center of hypergrowth for the Internet economy,” said George F. Colony, Forrester’s chairman of the board and chief executive officer. “Joining forces with the impressive team of professionals at Forit puts Forrester at the focal point of this growth. Together, Forit and Forrester will provide the most comprehensive and powerful eCommerce research for clients in Germany, Austria, and Switzerland. The acquisition of Forit extends our position as the leading Internet research firm in Europe by building on our existing research centers in Amsterdam and London.”
Steffen Binder and Christian Nolterieke, cofounders and managing directors of Forit, will continue to oversee the company’s operations together with its existing management. “Joining Forrester is both a milestone and a momentous opportunity for everyone at Forit,” said Binder. “Since our founding, Forit’s goal has been to provide our clients with an objective foundation for their Internet business decision-making. Combining with the worldwide leader in Internet research makes it possible for us to provide this service to a larger number of clients than ever before.”
Nolterieke added, “Our decision to unite with Forrester brings together two like-minded organizations that have unique yet complementary experience, talent, and skill sets. We look forward to our considerable role in expanding Forrester’s research activities in Germany, Austria, and Switzerland.”
“Providing localized research in national markets across Europe is key to our strategy,” said William M. Bluestein, Ph.D., Forrester’s president and chief operating officer. “This acquisition allows us to tailor our offerings to the needs of clients in Europe’s largest national economy by combining localized German-language research with our existing European products such as Internet AdWatch™ and Technographics®. Forit’s research for major clients such as Deutsche Telekom, Hypovereinsbank, Siemens, Dresdner Bank, Deutsche and Schweizer Post, AOL Bertelsmann, and Allianz has earned this young company well-deserved recognition as Germany’s leader in B2B and financial services research.”
The transaction will be accounted for as a purchase and is expected to be nondilutive.
Learn more about Forrester’s acquisition of Forit.
Forit, GmbH was founded in 1998 by Steffen Binder and Christian Nolterieke, former Monitor Group consultants. Forit’s Compass program delivers insight on the rapidly growing German eCommerce marketplace through a stream of written research, consumer data, and expert advisory. With a client roster that includes leading companies across a range of industry sectors in Germany, Austria, and Switzerland, Forit has established itself as a trusted advisor to senior executives crafting Internet strategy. The company is headquartered in Frankfurt, Germany and employs 23 people.
About Forrester Research
Forrester Research is the leading independent Internet research firm, analyzing technology change and its impact on business, consumers, and society. Forrester’s “Whole View” of the Internet economy enables clients to weave together Internet commerce initiatives with eBusiness technology to satisfy customers’ changing needs. Clients receive continuous research and analysis through Forrester eResearch™ Reports, an array of advisory services, eTools, and topical events. Established in 1983, Forrester is headquartered in Cambridge, Mass. Forrester’s European Research Center is located in Amsterdam, Netherlands, and its UK Research Centre is located in London. Additional information about Forrester Research can be found at www.forrester.com.
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, the acquisition and integration of Forit, GmbH into Forrester and the success of the company in European markets. These statements are based on the company’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, the need to attract and retain professional staff, the company’s ability to manage growth, possible variations in the company’s quarterly operating results, the company’s dependence on renewals of its membership-based research services and on key personnel, risks associated with the company’s ability to anticipate market trends and offer new products and services, competition, and risks associated with the integration of acquisitions. The company 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 the company’s reports and filings with the Securities and Exchange Commission.