Forrester Research said it will acquire SiriusDecisions for $245 million in a move to better target chief marketing officers.
According to the companies, they will be able to combine strategy research and consulting with operations. Sirius is a business-to-business research firm that has a platform for marketing, sales and product management methodologies.
SiriusDecisions had revenue of $87 million a year with 340 employees and 1,400 accounts. Forrester, which has 3,500 accounts, and SiriusDecisions reckon they will be able to cross-sell various services to clients. There are only 278 overlapping accounts between the two companies.
The plan for Forrester is to expand SiriusDecisions reach beyond technology and advanced manufacturing to financial services, healthcare and other areas. Forrester also plans on taking SiriusDecisions global beyond it's North American base.
Forrester said the deal is expected to add $100 million in revenue for 2019 and add 10 cents a share to 20 cents a share in earnings. Forrester added that the purchase is expected to close in January 2019. Forrester earlier this year announced the acquisitions of FeedbackNow and Glimpzit to build out is customer experience cloud.
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