Forrester, the consulting firm that is urging companies to be customer-centric, decided to take a page out of the same playbook for its own future growth.
The company has entered into a definitive agreement to acquire B2B research and advisory firm SiriusDecisions, for USD 245 million in cash, subject to adjustment.
“Digitally-savvy customers are changing the rules of business, creating extraordinary opportunity for companies that adapt and existential threat to those that don’t. The combined company creates a robust platform to help our clients not only navigate these rough waters but thrive in the age of the customer,” said George F. Colony, Forrester’s chairman and chief executive officer.
“Allying with Forrester changes the game for our clients and accelerates our growth across industries, regions, and business functions. Beyond the powerful synergies of our two firms what will make this work is our shared passion for our clients’ success,” added Rich Eldh, SiriusDecisions’ cofounder and co-CEO.
According to the press release, the deal offers Forrester a number of expansion opportunities. These include cross-selling services; accelerating international growth plans; expanding SiriusDecisions’ platform, methodologies, data, and best-practices tools to new roles; and expanding SiriusDecisions to new vertical markets.
With the SiriusDecisions acquisition, Forrester’s addressable market in strategy of USD 20 billion approximately doubles to USD 40 billion with the addition of operations. Adding operational expertise to Forrester’s strategy expertise will drive new business, renewal rates, and the ability to enrich existing contracts with additional services said the press release.