Gartner Buys Rival Research Firm Meta Group

Stamford, Conn.-based Gartner had revenues of $858 million in 2003, almost seven times the $122 million posted that year by Meta Group, which is headquartered in the same city.

"Gartner and Meta Group share complementary business models, which will allow easy integration of Meta Group's offerings into Gartner's existing service portfolio," promised Gene Hall, Gartner's chief executive officer.

Both firms regularly produce market and technology research reports for subscribing corporate customers.

Gartner intends to come up with the cash by dipping into its own reserves and borrowing against the company's existing line of credit.

While the boards of directors of both companies have unanimously approved the agreement, it will await both regulatory approval and that of Meta Group stockholders.