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UBM Firm Buys Pyramid for $8m
In the US, United Business Media's publishing, events and research group Light Reading Communications Network has acquired telecoms specialist Pyramid Research in an $8m cash deal.
 Cambridge, Massachusetts-based Pyramid analyzes and forecasts demand for communications and media services, applications, networks and devices in more than 100 countries.
'We view this acquisition to be highly advantageous,' commented Pyramid President and CEO Daniel Schimmel. 'Being part of a much larger media company will provide us with the resources and market access to grow.'
Pyramid will be integrated into Light Reading's market research unit Heavy Reading, which provides quant analysis of telecom technology to service providers, vendors and investors.
According to Heavy Reading MD Dennis Mendyk the combination of the two firms will complement and deepen his firm's existing 'top down' research analysis business, provide growth opportunities and expand the group's international presence.
Pyramid, which had 2007 revenues of approximately $7.6m and has additional offices in Hong Kong, London, Miami and Seattle, is online at www.pyr.com .
Other web sites: www.heavyreading.com , www.lightreading.com and www.unitedbusinessmedia.com .
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