Gartner buys Meta Group

Technology research and consulting firm Gartner Inc. has agreed to purchase its smaller rival Meta Group Inc. in an all-cash deal worth $162 million, or $10 per share. Both firms are in Stamford, Conn. Meta Group supplies IT research and advisory and strategic consulting services.

The deal increases Gartner's market reach and adds Meta's "well-trained, successful sales force," said Gene Hall, Gartner's chief executive officer. "The acquisition will make Gartner a stronger company with increased opportunities for growth and greater resources to offer clients."