Forrester to buy Springboard Research: source

BANGALORE, INDIA: Business and Technology research company Forrester Research is close to acquire another industry player Springboard Research and the announcement is expected as early as Thursday, a source with the knowledge of the development told CIOL.

The source, on conditions of anonymity, said that the takeover discussion apparently started a few months back and Forrester had given Springboard some targets to achieve before finalizing the deal. However, since Springboard could not meet the target in time it was speculated that the takeover may not happen soon.

But the parties negotiated and the deal was finalized, said the source.

The financial terms of the deal was not available.

Forrester Research is an industry leader which provides its clients with advice about technology's impact on business and consumers. The company which has four research centers each in the US and Europe, has nineteen sales locations worldwide.

Founded by Chris Perrine, a former executive with IDC, Springboard has a global presence with research centers in Australia, China, India, Japan, Malaysia, Pakistan, the UAE, and the US, and it has been considered an emerging leader in the global IT market research industry.