Forrester Research

Forrester is an American market research company that provides advice on existing and potential impact of technology to its clients and the public. Their 2016 adjusted EBITDA was $29.3 million and their 2015 adjusted EBITDA was $26.5 million.

Forrester Research, Inc.
TypePublic
NASDAQ: FORR
S&P 600 Component
IndustryMarket research
Information technology
FoundedJuly 1983 (1983-07)
FounderGeorge F. Colony
Headquarters
60 Acorn Park Drive, Cambridge, Massachusetts, U.S.
Revenue$313.7 million
$12 million
Number of employees
1,432 (as of December 31, 2018)[1]
Websiteforrester.com
George Colony, CEO of Forrester Research

The company offers a variety of services including syndicated research on technology as it relates to business, quantitative market research on consumer technology adoption as well as enterprise IT spending, research-based consulting and advisory services, events, workshops, teleconferences, and executive peer-networking programs.

Forrester has five research centers in the US: Cambridge; New York, New York; San Francisco, California; Washington, D.C.; and Dallas, Texas. It also has four European research centers in Amsterdam, Frankfurt, London, and Paris and four research centers in the APAC region in New Delhi, Singapore, Beijing, and Sydney. The firm has 27 sales locations worldwide.

History

Forrester was founded in July 1983 by George Forrester Colony, now chairman of the board and chief executive officer, in Cambridge , Massachusetts. The company's first report, "The Professional Automation Report," was published in November 1983. In November 1996, Forrester announced its initial public offering of 2,300,000 shares. In February 2000, the company announced its secondary public offering of 626,459 shares. The company acquired Fletcher Research, a British Internet research firm, in November 1999; FORIT GmbH, a German market research and consulting firm, in October 2000 and Giga Information Group, a Cambridge, Massachusetts-based information technology research and consulting company, in February 2003.[2] In July 2008, Forrester announced the acquisition of New York City-based JupiterResearch.[3] Forrester acquired Strategic Oxygen on December 1, 2009, and Springboard Research on May 12, 2011.

Forrester's head office has always been in Cambridge, Massachusetts: first, near Harvard Square, then, in Technology Square, and now in Cambridge Discovery Park (Acorn Park).

First consumer product

In September 2017, Forrester launched its first consumer product, an Apple and Android mobile app that allows consumers to rate companies using a simple system based upon a stoplight. The app uses the three colors; red for a bad rating, yellow for neutral, and green for good. Users can also leave a comment, and the business can reply once a comment has five or more ratings.[4]

Leadership
  • George F. Colony, chairman of the board and CEO

Restatement

On January 31, 2006, the company announced that on January 26, 2006 its independent registered public accounting firm, BDO Seidman, LLP, informed the company that it had incorrectly accounted for performance-based stock options to purchase 940,500 shares of common stock granted on March 31, 2005.[5]

Acquisitions

The following is a list of acquisitions by Forrester:

References
  1. "Forrester 2018 Annual Report". Forrester Research. 2019. Retrieved 2019-08-19.
  2. BNet, "Forrester Research to acquire Giga Information Group for 0.74 times revenue"
  3. Forbes Magazine, "Forrester Buys JupiterResearch For $23 Million"
  4. Rosen, Andy (2017-09-27). "A Cambridge company wants to do away with the five-star online rating system". The Boston Globe. Retrieved 2017-09-28.
  5. "Forrester Research Corrects Second Quarter And Third Quarter 2005 Non-Cash Stock Based Compensation Accounting Error".
  6. "Forrester decides to buy SiriusDecisions". MarTech Today. Retrieved June 24, 2019.
  7. "Forrester + SiriusDecisions". Forrester Research. Retrieved June 24, 2019.
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