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October 19, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Forrester buys Wilton-based SiriusDecisions for $245M

SiriusDecisions, a B2B research and advisory firm based in Wilton, is being acquired by market research giant Forrester for $245 million in cash.

“Empowered customers and the disruptive power of technology are forcing business and technology leaders to take decisive action and make deep-rooted changes while delivering quarterly results,” said George F. Colony, chairman and CEO of Cambridge, Massachusetts-based Forrester. “The combined value of Forrester’s strategic and SiriusDecisions’ operational capabilities will help our clients change and grow in tumultuous times.”

“Allying with Forrester changes the game for our clients and accelerates our growth across industries, regions and business functions,” said Rich Eldh, SiriusDecisions’ co-founder and co-CEO.

The addition of SiriusDecisions is expected to add approximately $100 million to Forrester’s revenue in 2019 on a pro forma basis, according to Forrester CFO Michael Doyle.

The transaction is expected to close in January subject to the satisfaction of customary closing conditions including applicable regulatory filings. It will be funded through a combination of cash on hand and up to $175 million of fully committed debt financing to be provided by JPMorgan Chase Bank N.A. and a syndicate of other lenders.