CNET to Acquire Gartner's TechRepublic

Posted on April 11, 2001

CNET Networks, Inc., a technology media and services company, announced that it has signed a definitive agreement to acquire TechRepublic Inc. from Gartner, Inc., a technology industry research firm, for $23 million in cash and common stock. Louisville, KY-based TechRepublic is an online destination for Information Technology (IT) professionals.

The transaction, which is not subject to any financing contingency, shareholder or regulatory approval, is expected to close early in the third quarter. It will expand CNET Networks' content for IT professionals by combining IT-oriented content and services from Gartner, TechRepublic and CNET Networks.

``The Internet has become the number-one place IT professionals go to research, compare, and make brand and buying decisions,'' said Shelby Bonnie, CEO of CNET Networks. ``This transaction enables us to create the definitive online resource for this critical, influential audience of IT professionals, as well as the best environment for technology marketers to reach their most important customers.''

``TechRepublic provides trusted advice, content and procurement services for busy IT professionals through its community-oriented website and targeted newsletters,'' said Barry Briggs, President of CNET Networks Media. ``This audience is of extremely high value to our marketing partners by virtue of their job functions, influence, and need for highly credible, real-time information.''

As part of the transaction, CNET Networks, Gartner and TechRepublic will expand many of their existing content and event-related agreements. The new arrangement maximizes online presence for the brands, and extends content sharing among the three sites.