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Forrester Tucks in JupiterResearch
In just over two years, MCG Capital’s buy from JupiterMedia more than doubles its value.
July 31, 2008
Forrester Research, the listed Massachusetts data, research and consulting firm, bought JupiterResearch from MCG Capital for $23 million, it was announced Thursday.
The sale represents a doubling in the value of MCG Capital’s investment; it bought in 2006 JupiterResearch for a reported $10.1 million from JupiterMedia, a listed Connecticut data and marketing firm.
“Uniting JupiterResearch and Forrester bring together the two leading research brands used by marketing and strategy executives,” said George Colony, Forrester’s chairman and chief executive. “JupiterResearch enhances our existing role-based strategy and offerings to bring unprecedented value to Forrester’s marketing and strategy clients.”
JupiterResearch has 83 employees and gathered $14 million in 2007; the marketing and strategy segment of Forrester’s platform was responsible for $46.4 million of the $212 million in revenues the entire company earned last year.
Investment bank The Jordan Edmiston Group advised Forrester on the deal. Its legal counsel was Ropes & Gray.
MCG Capital, a listed Virginian firm, was advised on legal matters by Nelson Mullins Riley & Scarborough, LLP and did not use a bank.
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