Research company Gartner, Inc. has purchased IT research company Burton Group for $56 million. From Dow Jones Newswire:
Gartner made the purchase, expected to expand its product and service offerings and increase IT research-market opportunities, Dec. 30. Burton, an IT research and advisory firm that has 41 research analysts and 40 sales and client-service employees, comes with projected 2009 revenue of $30 million.
Gartner has typically focused on advising companies’ chief information officers and senior IT executives, while Burton has built its business by advising “front-line IT professionals,” said Gartner Chief Executive Gene Hall. “Burton Group is a great strategic fit for Gartner and should enable us to offer a more complete solution to every level and functional expert within an IT organization.”
Gartner financed the deal through cash on hand and borrowings from its existing credit line. A week before closing the Burton deal, Gartner paid $63 million for another research firm.