451 Group buys Yankee Group from Alta Communications
BOSTON (Reuters) - Privately held technology research firm 451 Group said it has acquired Yankee Group, a competitor that focuses on the mobile communications industry, from private equity firm Alta Communications.
Yankee Group and 451 compete with firms including Forrester Research Inc (FORR.O), Gartner Inc (IT.N) and IDC in providing research that companies use to evaluate technologies.
Terms of the deal, announced on Thursday, were not disclosed.
Yankee Group Chief Executive Terry Waters will remain with the company, which will operate as a unit of 451 Group.
New York-based 451 Group has more than 200 employees. The companies declined to disclose how many people work for Yankee Group, whose headquarters is in Boston.
Yankee Group was founded in 1970 by Howard Anderson, who is now a senior lecturer at the MIT Sloan School of Management.
(Reporting By Jim Finkle; editing by John Wallace)