Forrester agrees to buy Giga

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Cambridge, Mass.--Technology research firm Forrester Research Inc. announced Tuesday that it has agreed to acquire competitor Giga Information Group, also headquartered in Cambridge, in a deal valued at $51.3 million.

Forrester is offering $4.75 in cash for each outstanding share of Giga.

Forrester has seen its revenue decline markedly, falling to $21.9 million in the third quarter of 2002, compared with $34.4 million in the year-earlier quarter.

Giga is expected to add 900 new clients to Forrester’s roster, according to Forrester’s Chairman-CEO George F. Colony.

Following the completion of the transaction, Forrester plans to make Giga a wholly owned subsidiary.

--Sean Callahan

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