Reuters Group has sold Boston-based industry research
firm The Yankee Group to a group of investors led by Monitor
Clipper Partners, a private equity firm.
The 34-year-old research firm was acquired by Reuters in 2000
for $72.5m. Terms of the sale to Monitor Clipper Partners were not
disclosed.
The Yankee Group had been on the market since October 2003, when
Reuters decided that the 150 employee research firm was "not core
to their strategy", said George Bates, Yankee's vice president of
marketing.
The private investors who purchased the research firm include
Ted Phillip, a former executive at Lycos, who will play an "active"
role in the investment.
Monitor Clipper Partners is a joint venture between the Monitor
Group, a family of professional services firms and The Clipper
Group, a privately held investment company. Founded in 1997, it is
a $1.5bn private investment firm.
Robert McMillan writes for IDG News
Service