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Technology-focused research firm Gartner Inc. says it plans to acquire Boston-based AMR Research Inc. for approximately $64 million in cash. AMR also has a tech focus, more narrowly aimed at the supply chain management part of the information technology field.
According to Gene Hall, CEO of Stamford, Conn.-based Gartner (NYSE: IT), the firm will add AMR Research’s team of approximately 40 research analysts and 45 sales executives to its ranks. However, Gartner stated it would likely achieve “operational efficiencies” following the closing of the purchase.
AMR Research is projected to reach 2009 revenues of approximately $40 million. The deal is subject to the usual closing conditions and is expected to close by the end of the year, Gartner officials said.
Gartner said buying AMR Research should not have any material impact on its 2009 financial results but does expect it to be significantly accretive to its revenue, earnings and cash flow eventually.
For 2008, Gartner reported $1.2 billion in revenue and a profit of $103 million. As of Sept. 30, Gartner reported having 4,198 emploees.
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