STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 4, 2017--
Gartner, Inc. (NYSE:IT), the world’s leading research and advisory
company, today announced that it has initiated a process to explore and
evaluate strategic alternatives for its CEB Talent Assessment business,
formerly SHL. As part of this process the Company intends to consider a
range of strategic options, which may include, among other things, a
sale of the business.
CEB Talent Assessment is a leading global provider of talent assessment
solutions. CEB Talent Assessment’s best-in-class product portfolio of
science-based assessment tools, benchmark data, predictive technologies
and consultancy services drive business results by equipping
organizations to assess, select, and develop the right people for the
right roles. For the twelve month period ending June 30 2017, CEB Talent
Assessment’s revenue represented approximately 6% of Gartner and CEB
combined adjusted revenue.
“The Board and management team regularly evaluate opportunities to
enhance shareholder value and believe now is the right time to explore
potential alternatives for CEB Talent Assessment,” said Gene Hall, CEO
of Gartner. “Since acquiring CEB Talent Assessment as part of the CEB
acquisition earlier this year, we have repositioned the business to
drive long-term growth. While CEB Talent Assessment is a recognized
industry leader in a rapidly expanding marketplace with significant
growth opportunities, it is not aligned with our core focus of providing
research and advisory services to address the mission-critical
priorities of every functional leader in the enterprise. We are
confident this is a positive step forward for CEB Talent Assessment and
its clients as it represents an opportunity to bring a renewed focus on
the business to better support innovation, product development and
There can be no assurance that this review will result in a transaction
being announced or agreed upon. Although Gartner expects to proceed in a
timely manner, there is no timetable for completion of the review
process and the Company does not intend to announce any updates until
the conclusion of the strategic review.
Gartner has retained Evercore as financial advisor and Cooley LLP as its
legal advisor to assist in its review of strategic alternatives for CEB
Gartner, Inc. (NYSE: IT) is the world's leading research and advisory
company. The company helps business leaders across all major functions
in every industry and enterprise size with the objective insights they
need to make the right decisions. Gartner's comprehensive suite of
services delivers strategic advice and proven best practices to help
clients succeed in their mission-critical priorities. Gartner is
headquartered in Stamford, Connecticut, U.S.A., and has more than 13,000
associates serving clients in 11,000 enterprises in 100 countries. For
more information, visit www.gartner.com.
Cautionary Note Regarding Forward-Looking Statements
This communication contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Forward-looking statements
generally relate to future events or our future financial or operating
performance. Forward-looking statements may contain words such as “will
be,” “will,” “expects,” “expected,” “intends,” “continue,” or similar
expressions, and include the assumptions that underlie such statements.
These forward-looking statements may include statements about future
financial and operating results; benefits of a potential transaction to
customers, stockholders and employees; and other statements regarding a
potential transaction. Gartner’s expectations and beliefs regarding
these matters may not materialize, and actual results in future periods
are subject to risks and uncertainties that could cause actual results
to differ materially from those projected.
The forward-looking statements contained in this communication are also
subject to other risks and uncertainties, including those more fully
described in our filings with the Securities and Exchange Commission
(“SEC”), including our Annual Report on Form 10-K for the year ended
December 31, 2016, and our Quarterly Report on Form 10-Q for the
quarterly period ended June 30, 2017, both of which can be found on
Gartner’s website at www.investor.gartner.com
and the SEC’s website at www.sec.gov.
The forward-looking statements in this press release are based on
information available to Gartner as of the date hereof, and Gartner
disclaims any obligation to update any forward-looking statements,
except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171004005750/en/
Source: Gartner, Inc.
Sherief Bakr, + 1 203-316-6537
Andrew Spender, + 1 203-316-3286
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Gartner's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.