Business-information provider D&B Corp. has acquired First Research for $22.5 million in cash.
Raleigh, N.C.-based First Research provides Internet-based content, such as marketing research and industry trends, that is tailored for use by sales professionals. D&B said that it plans to enhance its Hoover’s Inc. database with deeper, industry-specific content through the acquisition, and added that the deal has an earn-out potential of up to $4 million based on the unit’s financial performance. D&B chairman and chief executive Steve Alesio said that the acquisition is part of the company’s strategic growth plan for two key reasons. First, the deal supports D&B’s plans for growing its Hoover’s online presence, and second, the deal supports D&B’s goal to delivering profitable revenue growth over time. First Research generated 2006 revenues of $6.5 million, nearly 30 percent growth over its 2005 numbers. Because of accounting rules -- specifically the treatment of deferred revenue -- D&B said that it does not expect the First Research acquisition to have a material impact on its 2007 revenues, or an impact on D&B’s 2007 financial guidance.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access