Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Last month’s acquisition of JupiterResearch LLC of by Forrester Research Inc. for $23 million plus debt, doesn’t mean much for mid-size online retailers Abe Book or eBags.
Last month’s acquisition of JupiterResearch LLC of by Forrester Research Inc. for $23 million plus debt, doesn’t mean much for mid-size online retailers AbeBooks Inc. or eBags Inc.
In late July, Forrester purchased its smaller competitor Jupiter and JUPR Holdings Inc. from MCG Capital Corp. Forrester says the purchase complements its syndicated research business model. Both firms cover e-commerce and other business fields and technologies and sell their reports to industry players.
But Boris Wertz, director of AbeBooks. an online marketplace for books with more than 110 million primarily used, rare and out-of-print books listed for sale by independent booksellers, says the acquisition won’t change the way he receives industry data. Wertz has purchased about 10 reports from Forrester over the years. Today however, he tends to get his data and research for free from blogs, online news sources e-mail newsletters and reports from investment banks. He says the reports he’s bought from Forrester have been too high-level and tend to lack actionable data that he can apply to his business.
“I’d rather buy something specific about my competitors’ traffic or search engine traffic,” Wertz says.
Peter Cobb, vice president and co-founder of online handbag retailer eBags, says he’s never bought a report from either company, but thinks they are both reputable firms.
“I think a lot of both of them and I think of them as equal, but I’ve never purchased a report,” Cobb says.
Jupiter has 83 employees and 2007 revenues of $14 million. Forrester’s 2007 revenues totaled $212 million. Jupiter will join Forrester`s Marketing & Strategy Client Group, which contributed $46.4 million to Forrester`s total revenue in 2007.
"Uniting JupiterResearch and Forrester brings together the two leading research brands used by marketing and strategy executives," says George F. Colony, Forrester`s chairman and CEO.
"JupiterResearch enhances our existing role-based strategy and offerings to bring unprecedented value to Forrester`s clients. We welcome JupiterResearch employees and clients to Forrester." Forrester covers marketing and strategies, IT and technology industries. JupiterResearch provides research for marketing executives, consumer market researchers, consumer product strategists, customer experience experts, direct marketers, interactive marketers, and eBusiness and channel specialists.
"Acquiring JupiterResearch is a significant step in our growth strategy for the marketing and strategy segment of Forrester`s business," says Dennis van Lingen, managing director of Forrester`s Marketing & Strategy Client Group. "JupiterResearch`s established offering, well-respected research team, and strong sales organization complement Forrester`s and solidify our long-standing leadership position as advisors to marketing and strategy professionals worldwide."