LONDON—Market research firm Ovum plc said it will pay $1.2 million to acquire Boston-based counterpart Summit Strategies Inc.
Ovum, which staged an initial public offering in March, offers research and analysis to customers including Alcatel Corp., Cisco Systems Inc., Deutsche Telekom AG and Vodafone Group plc. The firm said the acquisition centered on Summit Strategies’ expertise in utility computing—the business of selling computer usage rather than hardware—as well as Summit’s traction in the United States.
Summit Strategies generated $1.9 million in revenue last year. The company focuses on enterprise-based IT including wireless, and its customers include IBM Corp., Hewlett Packard Co. and Microsoft Corp.
“(The acquisition) allows us to develop a stronger relationship with blue-chip IT vendor customers and further strengthens our position in the U.S. market,” said Chris Dines, Ovum’s chief executive officer.
