Gartner to Acquire META Group

Technology researcher Gartner Inc. agreed to acquire research competitor META Group for $162 million in cash. Gartner, which reported $858 million in revenues in fiscal 2003, will pay $10 per share in cash for META, which posted revenues of $122 million last year. Gartner said the purchase of META, which is also headquartered in Stamford, would help bolster its research capabilities. Gartner said it would finance the acquisition with its cash on hand, as well as borrowing from its existing credit line.