Press release from Business Wire
Gartner Announces Closing of Secondary Offering of Common Stock by ValueAct Capital
Thursday, February 24, 2011
Gartner Announces Closing of Secondary Offering of Common Stock by ValueAct Capital16:15 EST Thursday, February 24, 2011
STAMFORD, Conn. (Business Wire) -- Gartner, Inc. (NYSE: IT), the leading provider of research and analysis
on the global information technology industry, today announced that
ValueAct Capital Master Fund, L.P. (ValueAct Capital) closed the
previously announced secondary offering of 9,200,000 shares of Gartner's
common stock (including 1,200,000 shares of common stock pursuant to the
exercise of the over-allotment option by the underwriters) at $35.50 per
share. All of the shares of common stock were sold by ValueAct Capital.
Gartner did not receive any proceeds from the sale of the shares of
common stock in the offering. Credit Suisse Securities (USA) LLC and
Goldman, Sachs & Co. acted as underwriters for the offering.
A copy of the prospectus relating to this offering may be obtained from
Credit Suisse, Attn: Prospectus Department, One Madison Avenue 1B, New
York, NY 10010, telephone: (800) 221-1037 or Goldman, Sachs & Co., Attn:
Prospectus Department, 200 West Street, New York, NY 10282, telephone:
(866) 471-2526, facsimile: (212) 902-9316, email prospectus-ny@ny.email.gs.com.
This release does not constitute an offer to sell or a solicitation of
an offer to buy any securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction.
Purchase from ValueAct Capital
Gartner also announced the closing of the repurchase, pursuant to a
Stock Purchase Agreement, dated as of February 14, 2011, of an aggregate
of 500,000 shares of common stock from ValueAct Capital at a purchase
price of $34.435 per share (the price per share in the secondary
offering, net of the underwriting discount), for aggregate consideration
of approximately $17,217,500. After giving effect to this purchase, and
the sale of the 9,200,000 shares in the public offering, ValueAct
Capital's percentage ownership interest in Gartner's outstanding shares
will be approximately 7.5%.
About Gartner
Gartner, Inc. (NYSE: IT) is the world's leading information technology
research and advisory company. Gartner delivers the technology-related
insight necessary for its clients to make the right decisions, every
day. From CIOs and senior IT leaders in corporations and government
agencies, to business leaders in high tech and telecom enterprises and
professional service firms, to technology investors, Gartner is the
valuable partner to approximately 60,000 clients, in 11,601 distinct
organizations. Through the resources of Gartner Research, Gartner
Executive Programs, Gartner Consulting and Gartner Events, Gartner works
with every client to research, analyze and interpret the business of IT
within the context of their individual role. Founded in 1979, Gartner is
headquartered in Stamford, Connecticut, U.S.A., and has 4,461
associates, including 1,249 research analysts and consultants, and
clients in 85 countries.
Gartner, Inc.Andrew Spender, 203-316-3286andrew.spender@gartner.com
