D&B acquired First Research as a tuck-under acquisition to enhance Hoover’s offering with deeper industry-specific content. It supports D&B’s Internet strategy of growing Hoover’s by better meeting the need for commercial insight among sales professionals. First Research generated revenues of US$ 6.5 million in 2006, which represented 29% growth over the prior year. D&B paid US$ 22.5 million in cash for First Research with an earn-out potential of up to US 4 million based on financial performance.
First Research is the leading Internet provider of editorial-based industry Insight, specifically tailored towards sales professionals. Through this acquisition, D&B is able to enhance Hoover’s offering with deeper industry-specific content, providing sales professionals with higher quality data and more comprehensive insight. Hoover’s is expanding overseas, however no explanation was given as to how Hoover’s and First Research are being integrated in D&B’s global network of local franchises.
Hoover’s interim President Paul Pellman told Outsell that First Research is a “perfect match for Hoover’s; very complementary,” and that the two companies are ”mirror images” of each other. Pellman notes that where Hoover’s is strongest in providing insights into companies and executives, First Research is strongest in providing insights into the industries of these companies and executives. In Outsell’s opinion: D&B has given Hoover’s a vote of confidence by bankrolling this acquisition. Source: Company Press Release www.dnb.com and OutsellNow article: https://clients.oursellinc.com/now/?p=3152 Outsell is a member of BIIA