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Tech Industry

Forrester to go public

Forrester Research is jumping on the IPO bandwagon this week, filing registration papers with the Securities and Exchange Commission.

Forrester Research is jumping on the IPO bandwagon this week, filing registration papers with the Securities and Exchange Commission.

The technology research firm intends to offer 2 million shares at $13 to $15 each, according to the SEC filing.

After the offering, the company will have 8 million shares outstanding, leaving founder and president George F. Colony with a 74 percent stake in the company. Colony will then assume the titles of chairman, president, and chief executive.

The IPO proceeds will be used for working capital, corporate expenses and possible acquisitions.

Forrester has seen its revenues and profits leap during the past five years. The company reported revenues of $14.6 million in 1995, up from $3 million in 1991. And net income reached $2 million last year, up more than fourfold since 1991, when the firm posted earnings of $480,000.