BOSTON (03/22/2000) - Gartner Group Inc. announced today that it paid US$80 million to acquire TechRepublic Inc., a Web site operator providing IT professionals with industry news, analysis, forums, and job and event listings, in a deal that closed yesterday. The market research company also said that Silver Lake Partners LP is investing $300 million in Gartner.
"Our goal is to take full advantage of the Internet as a platform for a new business model," Michael Fleisher, Gartner president and chief executive officer, said on a teleconference today regarding the acquisition. "With the TechRepublic acquisition, the Gartner brand can reach and cover the entire information technology marketplace," he added.
The deal gives Gartner access to TechRepublic's member base representing companies who deploy, organize and distribute information technology, who are the new IT leaders, according to Fleisher. Gartner traditionally draws its clients from CIOs (chief information officers), senior managers and executives both within and outside of the IT industry.
The TechRepublic online audience includes 450,000 registered members and grows by 6,000 new members daily, according to the company. TechRepublic will continue to operate independently, but will develop editorial features and new tools and services together with Gartner. Three new editorial columns featuring Gartner research launched today at the TechRepublic site.
As for the Silver Lake investment, Gartner said in a separate announcement today that the $300 million investment infusion will be made via a five-year private subordinated convertible note.
Gartner Group, in Stamford, Connecticut, can be reached at +1-203-316-1111 or http://www.gartner.com/. Silver Lake, in Menlo Park, California, can be reached at +1-650-233-8120, or in New York at +1-212-981-5600 or http://www.slpartners.com/. TechRepublic is on the Web at http://www.techrepublic.com/.