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Friday, 24 October 2014

Gartner wants to make Ideas its own

AUSTRALIA— The Australian subsidiary of Gartner, an IT market analyst, has made a AUD 20m takeover offer for Sydney-based Ideas International.

The takeover is supported by the Ideas board and management, led by CEO Stephen Bowhill, who said: “Gartner’s acquisition and investment in Ideas will enable us to provide incremental value to our existing clients. At the same time, we will reach a broader set of clients as a result of Gartner’s significant size and international market presence.”

Bowhill said the two firms are “highly complementary” and “do not have overlap in coverage”. Ideas provides market intelligence on IT infrastructure configurations and pricing data, and Bowhill says Gartner will “retain virtually all our employees, including every research analyst”.

The takeover offer, priced at AUD 1.40 per share, will be put before Ideas shareholders in the first week of May and will remain open for 30 days. The deal requires at least 90% of shares to be voted in favour for it to pass.

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