Gartner Group, Inc. (NYSE: IT) rose 5 1/2 to 21 Wednesday after the technology consulting firm said Silver Lake Partners LP would invest $300 million. Gartner will issue Silver Lake a convertible subordinated note, and plans to use the proceeds to repay senior debt and fund investment in its business initiatives. Silver Lake will also get two seats on Gartner’s board.
Silver Lake’s “industry relationships, capital-market expertise, strategic insights and operating experience” will help Gartner to “more fully exploit our market opportunities,” said Gartner President and Chief Executive Officer Michael D. Fleisher.
Separately, Gartner said it would buy TechRepublic, Inc., a Web site for information technology professionals. The site has more than 450,000 subscribers, and adds about 6,000 new users a day, Gartner said.