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Gartner closes acquisition of research provider CEB

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Gartner closes acquisition of research provider CEB

Gartner Inc. has completed its acquisition of best practice and talent management insights provider CEB Inc. for a total transaction value of about $2.6 billion.

Gartner paid $54.00 in cash and 0.2284 shares of its common stock for each CEB common share. In addition, Gartner also assumed about $700 million in CEB net debt, bringing the total enterprise value of the transaction to $3.3 billion.

The transaction was completed after the merger's approval by CEB stockholders at an April 4 special meeting, arrangement of financing, and the receipt of all regulatory approvals.

CEB's stock will cease trading and will no longer be listed on the New York Stock Exchange.

Gartner intends to provide an updated outlook for the full year 2017 while reporting its financial results for the first quarter, which will include the expected contribution from the acquisition.