For $56 million, Stamford-based Gartner Inc. acquired Burton Group Inc., which had an estimated $30 million in revenue last year providing how-to advice for information technology professionals.
Gartner provides market research and consulting on a wide range of IT topics, but in an open letter to clients CEO Gene Hall suggested the company had closed a gap in its service offerings with the Burton Group acquisition.
“Our clients frequently ask us to provide a complementary portfolio of products and services specifically designed to meet the unique needs of frontline technologists within their teams,” Hall stated. “The acquisition of Burton Group enables us to meet this demand and offer a complete solution to every level and functional expert within the IT organization.”
Hall added that Stamford expects to retain “the vast majority” of Burton Group”™s 80 employees, half of which are analysts. Burton Group is based in Midvale, Utah.
The state debuted the Connecticut Small Business Innovation and Diversification Program to help small businesses develop, produce and commercialize new products.
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The program will make grants available of up to $25,000 for manufacturers seeking to innovate and diversify their operations in the state. The pilot program is limited to companies based here or that have operations in the state; that have fewer than 500 employees; and that have ongoing business and sales derived from Connecticut-based activities. Participating companies must match the grants.
The program is administered through the Small Business Innovation Research office at Rocky Hill-based Connecticut Innovations, and is funded by the Department of Economic and Community Development.
“There is a real need to provide matching grants to companies with manufacturing capabilities in Connecticut with tremendous opportunity for growth,” said Gov. M. Jodi Rell in a written statement.
SS&C Technologies Holdings Inc. filed for an initial public offering of stock, aiming to raise $300 million in capital.
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The Windsor-based company sells software to help financial companies execute trades and manage their portfolios, employing about 1,140 people as of Sept. 30. Last week, SS&C Technologies announced it had acquired Tradeware Global Crop., a New York City-based company with 60 employees that specializes in flexible, financial information exchange-based order management systems,
Through the first three quarters of 2009, SS&C had a $13 million profit on $200 million in revenue, with sales down 5 percent from the same period in 2008.
