LIGHTSPEED RESEARCH ACQUIRES FORRESTER’S ULTIMATE CONSUMER PANEL BUSINESS
BASKING RIDGE, N. J. AND CAMBRIDGE, Mass, October 04, 2006 — Lightspeed Research, a global interactive solutions provider to the marketing research industry, and Forrester Research, Inc. (Nasdaq: FORR), an independent technology and marketing research firm, announced today that Lightspeed has acquired Forrester’s Ultimate Consumer Panel business. The combination of the consumer behavior expertise coupled with Lightspeed Research’s leadership in global online panels, will offer clients in-depth insights on consumer behaviors in the financial services industry.
The innovative Forrester Ultimate Consumer Panel business has developed unique tools for analyzing consumer credit card, banking statement and transaction data to help understand consumers’ financial services behaviors.
Founded in 2000, Lightspeed Research provides quality market research solutions through the use of its global online panels in North America, Europe and Asia Pacific. Lightspeed Research has acquired Forrester’s Ultimate Consumer Panel business to create the industry’s leading online financial services value added panel product. Lightspeed will continue to develop the breadth of the Ultimate Consumer Panel business' offerings.
As part of the acquisition, members of Forrester’s Ultimate Consumer Panel business team including Senior Vice President Gregory Flemming, Ph.D., and Business Development Director, Melissa Hurley Lynch now join the Lightspeed team of professionals and will continue to manage the Ultimate Consumer Panel operation and work with the online market research experts at Lightspeed Research.
Commenting on the acquisition, Anne Hedde, Lightspeed Research President and Group CEO, states, “I am very excited about this acquisition and the level of depth it adds to our global offerings. The Forrester Ultimate Consumer Panel team have successfully developed an industry leading product that we will continue to expand and develop, allowing us to expand our core offer and add more value to our clients.”
Forrester Research Chairman and CEO George F. Colony states, “I am very proud that Forrester was able to create the unique Ultimate Consumer Panel business and I am confident that it will be an excellent complement to Lightspeed Research’s existing market research products. Forrester is selling the Ultimate Consumer Panel business because it no longer fits with our core focus on broad, global business and consumer data. Data remains a major growth area for Forrester and a primary offering for our clients. Our go-forward strategy will be to outsource our panel work rather than own panels outright as we did with the Ultimate Consumer Panel business.”