• August 1, 2008

Forrester Research has acquired smaller rival JupiterResearch for $23 million in cash, the Cambridge, Mass.-based technology research firm said Thursday.

Jupiter will be folded into Forrester's marketing and strategy client group, and the Jupiter brand will be phased out by year's end. With 82 employees and $14 million in revenue in 2007, the New York-based firm is only a fraction the size of Forrester, which has 1,000 employees and 2007 revenue of $212 million.

A Forrester spokesman said the company expected to retain substantially all of the Jupiter workforce.

Jupiter has changed ownership several times during its more than 20-year history. It was acquired most recently in 2006 by MGC Capital, which merged it with Kagan Research to form KaganResearch. It became JupiterResearch after the Kagan business was sold in 2007.

"I know that the expanded, combined organization will have the resources to provide our clients with even greater insight and advice as well as access to Forrester's broad range of products and services," wrote JupiterResearch President David Schatsky, in a blog post Thursday.--Mark Walsh