Technology research firm Gartner announced it has agreed to acquire advisory company CEB Inc. The company said the transaction is valued at $2.6 billion in cash and stock, and has a total enterprise value of approximately $3.3 billion. The deal is expected to close in the first half of 2017.
Gartner said the acquisition of CEB will enhance its suite of advisory services and syndicated research across multiple industries and sizes, including human resources, IT, marketing, sales and finance. The company will introduce CEB’s best practice and talent management insights to Gartner clients worldwide as well as into the mid-sized enterprise segment, according to Gartner CEO Gene Hall, in a press release regarding the deal. It also plans to introduce and develop a comprehensive suite of new syndicated research and advisory products.
“We look forward to working with CEB’s highly talented teams to leverage our global reach and apply Gartner’s proven operational and sales execution capabilities at scale to accelerate growth across CEB’s businesses,” Hall said.
CEB Chairman and CEO Tom Monahan said in the release that the combined company “will have unmatched insight into technology, talent and the other drivers of corporate performance.” Monahan also said that CEB employees “will benefit from being part of a diversified and growing global organization with enhanced opportunities for career growth and development.”
Neither company was available for additional comment on whether the deal would affect branding or employees. However, finding operational efficiencies is in the plan. The release indicated that “Gartner expects to realize annualized cost synergies of approximately $25 million to $50 million starting in 2018.”
