The deal is its second acquisition in six months since its IPO in March this year, and is part of a broader plan to invest in advisory services for larger organizations.

Ovum CEO Chris Dines said the move will help Orbys expand internationally.

"Our immediate focus will be to expand the sales of Orbys internationally, but ultimately we will seek to develop a range of services for our blue-chip clients," Dines said.

"This acquisition provides excellent synergies and sets the path of establishing Ovum as an advisor at the juncture between vendors and buyers."

Orbys managing director Angela Wyatt said the deal will strengthen its customer service abilities.