Marketing research firm Forrester Research Inc. has acquired competitor JupiterResearch LLC and its parent company, JUPR Holdings Inc., from MCG Capital Corp. for $23 million in cash.
“At the core, this is about growth for us,” said Charles Rutstein, COO at Forrester. The deal will add to the depth of Forrester’s offerings across all segments, he continued.
Neither brand currently covers the entire direct marketing space, but by coming together, Forrester expects to meet more direct marketers’ needs. “Ultimately, our goal here is to be more relevant to direct marketers and their peers everyday,” Rutstein said.
Forrester expects the integration of personnel and product by the beginning of 2009. JupiterResearch will join Forrester’s marketing and strategy client group.
The Jordan, Edmiston Group Inc. represented Forrester Research in the transaction, acting as its financial advisor.
Forrester’s revenue was $212 million in 2007, $46.4 million of which was came from the marketing group. JupiterResearch’s revenue was approximately $14 million last year.