Internet research firm Jupiter Communications moved into Scandinavia with the acquisition of Swedish owned consulting company Intelligence AB.
Intelligence is a privately held company, owned mainly by its two founders, Pierre Siri and Theodore Bergquist, and venture capital investment company Novestra.
Novestra is involved in other Internet companies in the region, including E*Trade Sweden, Boxman, Framtidsfabriken and Bredbandsbolaget.
The two founders left well-known portal Passagen to found Intelligence in 1998. The company is headed by Theodore Bergquist and employs research analysts, primarily with expertise on online marketing and e-commerce strategies in the Nordic region.
The sale concerns only the research and analysis division, which will form a separate unit, the new Jupiter Scandinavia. The rest of the consulting business will continue to be held by Intelligence. Theodore Bergquist will become the manager of Jupiter Scandinavia, while his partner Pierre Siri continues as CEO of Intelligence AB.
Scandinavia is a key market in Europe, with Jupiter’s European operation based in London.
This acquisition gives Jupiter fast access into the Nordic area, providing specific and expert knowledge related to e-commerce issues in this region, according to Kurt Abrahamson, chief operating officer for Jupiter.
Terms of the deal were not disclosed, but sources said the deal is worth SEK 70 to 100 million (US$8 to 12 million).