Gartner to buy AMR Research for $64 mn

LONDON, UK: Global technology research and advisory firm Gartner Inc said on Tuesday that it has agreed to acquire AMR Research Inc for about $64 million to expand its research offerings and complement its consulting and events businesses.

The deal is expected to be neutral to 2009 results and 'modestly accretive' to adjusted income per share in 2010, the company said in a statement.

AMR, which is projected to have nearly $40 million in revenue this year, serves supply-chain management and information-technology professionals. The acquisition of AMR Research is expected to expand Gartner's suite of research offerings and also complement its consulting and events businesses, enhancing its ability “to further penetrate the vast market opportunity for syndicated research."

Gene Hall, Gartner's chief executive officer, said, AMR Research is an excellent strategic fit for Gartner.

“The firm is the market leader for research related to supply chain management, which is inextricably linked to IT and has become a central and growing issue for many organizations. We expect the acquisition to give us immediate presence in this market and the ability to generate substantial synergies by selling AMR Research products to Gartner clients and Gartner products to AMR Research clients,” he said.

Gartner said it intends to finance the acquisition through the use of cash on hand, as well as borrowings under the Company's existing line of credit.