Consolidation of the IT market isn't limited to hardware and software vendors. Two leading companies that give strategic and technical IT advice to business-technology executives will merge.
Gartner, with $858 million in revenue last year, said today it will buy Meta Group, which generated $122 million, for $162 million in cash. Gartner will borrow some of the money to pay for Meta stock valued at $10 a share.

According to Gartner, the addition of Meta's sales team will enhance Gartner's ability to increase revenue in coming years. The combination will also drive operational efficiency given the complementary nature of the two companies, Gartner says.

Gartner CEO Gene Hall, in a statement, noted both that firms are based in Stamford, Conn., and share complementary business models, which will ease the integration of Meta's offerings into Garnter's service portfolio. "The acquisition will make Gartner a strong company with increased opportunities for growth and greater resources to offer clients," Hall said. Gayl Doster, co-chair of Meta's special board committee, said in a statement that the merger would provide a greater depth and breadth of expertise to help meet the combined companies' business goals. Gartner has 76 offices around the world; Meta maintains 52 locations.

The merger, which has the blessing of both companies' boards, must be approved by Meta stockholders and regulators. The deal is expected to be closed in the spring. The investment bank Perseus Group provided financial advice to Gartner on the deal; Wachovia Capital Markets LLC acted as Meta's financial adviser.