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Alta Communications Acquires Yankee Group
The IT consultancy is now part of a Boston-based private equity firm.
W. David Gardner
November 17, 2005
2 Min Read
The Yankee Group, a Boston-based research and advisory firm, has changed hands again. This time it was acquired by Alta Communications, a Boston private equity firm and Emily Nagle Green, a former executive at rival Forrester Research.
In an announcement Thursday, Yankee said its president and CEO Brian Adamik "is stepping down after a transition period to pursue other opportunities."
Alta Communications, which has some $1.5 billion under management, noted that it was formed in 1996 to focus on media and telecommunications industries. The two firms appeared to be a good fit as the Yankee Group bills itself as "the world's largest research and advisory firm focused on communications and networking technologies."
Emily Green, who most recently served as CEO of Cambridge Energy Research Associates Inc., had previously served in top positions at Forrester. Yankee and Forrester waged a spirited rivalry for several years, putting Green in the position of facing her former firm.
"I've known and respected Yankee Group's work since I first became a client of technology research in the late '80s," she said in a statement. "It's an exciting time of change in the industry and I'm confident that Yankee Group's strong brand and independent heritage provide a solid foundation for growth."
Terms of the deal were not revealed. Founded in 1970 by entrepreneur Howard Anderson, the firm was sold first to Primark, then to Reuters news service in 2000 for $72.5 million in cash. Now Decision Matrix Group LLC is the latest seller.
Alta general partner B. Lane MacDonald observed that Alta has made more than 100 investments in communications companies. He stated: "We're delighted to marry our financial expertise in the media and communications sectors with Yankee Group's technology and business insights."
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