Forrester Research said today that it will acquire the smaller but well-recognized firm Jupiter Research for $23 million in cash, plus assumed liabilities. Jupiter, which has 82 employees and had revenues last year of about $14 million, will be wrapped into Forrester's Marketing & Strategy Client Group. Last year, Forrester had revenues of $212 million. It has more than 1,000 employees. Jupiter brings to the table its syndicated research library, proprietary data and its analysis expertise.
Forrester also reported its second quarter earnings this morning. Revenues were $63.5 million, compared with $55.2 million for the same quarter a year ago. It reported net income of $8.6 million, or 37 cents per share, compared to $4.5 million, or 19 cents per share, last year. Shares of Forrester were up more than 3 percent in morning trading.