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Yankee Group Bought, CEO Leaves
US technology research firm Yankee Group has changed hands for the second time in two years. Emily Nagle Green, formerly MD of Forrester, is taking over the company, in a deal backed by private equity firm Alta Communications. Current CEO Brian Adamik is standing down after ten years with the company.
The firm, which now has 160+ employees, was set up in 1970, and bought for $73m by Reuters in 2000. Last year, Decision Matrix Group bought the company. The financial terms of the latest deal have not been disclosed.
Adamik will leave after a transition period in order 'to pursue other opportunities'. An announcement from Yankee Group says no other immediate changes are planned.
Green was most recently CEO of Cambridge Energy Research Associates (CERA), and oversaw the company's sale last year to IHS Energy of Houston. A software engineer by training, she joined IT research firm Forrester as an analyst in 1995, and rose to be MD of Forrester North America.
Speaking of her latest move, Green says: 'Yankee Group's strong brand and independent heritage provide a solid foundation for growth. Alta and I are delighted to become a part of that mission'.
B. Lane MacDonald of Alta says his company, which has made investments in over 100 communications companies in the past 20 years, is 'delighted to marry our financial expertise in the media and communications sectors with Yankee Group's technology and business insights'.
Headquartered in Boston, Yankee Group also has research and sales staff in Europe, the Middle East, Africa, Latin America and Asia Pacific. The company's web site is at www.yankeegroup.com . Alta is online at www.altacomm.com.
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