Gartner Inc. (NYSE: IT) said Tuesday that it will buy AMR Research Inc. for about $64 million in cash, broadening its research offerings and building on its consulting and events operations, according to Associated Press.
Gartner CEO Gene Hall said in a statement that AMR will give it access to the supply chain management market as well as boost its employee base with the addition of approximately 40 research analysts and 45 salespeople.
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Gartner, a technology research and analysis company, plans to fund the acquisition with available cash and borrowings under an existing credit line.
The transition is expected to modestly add to 2010 earnings and add at least 4 cents to 6 cents per share to Gartner's 2011 results when acquisition and integration related charges are removed.
The deal is anticipated to close later this month.
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