Yankee Group, a Boston-based market research company, has raised $10 million in new private equity funding from majority shareholder Alta Communications. The capital will be used to support ” the strategic expansion of its research on the impact of global connectivity.”
Yankee Group today announced an investment plan of $10 million to support the strategic expansion of its research on the impact of global connectivity, what it terms “Anywhere.” Funded by Alta Communications, a private equity firm and the company’s majority shareholder, the investment will serve to double the company’s research team over the next two years. It will also deepen the company’s research and data portfolio to further address the 4G marketplace and augment its analysis of the impact of rising user demand on telecommunications networks.
“Opportunities in the communications sector leveraging a global Anywhere Network® are taking off; our own forecasts show that the Anywhere Economy will grow to almost $1 trillion by 2013,” said Emily Nagle Green, Yankee Group CEO and President. “Demand is skyrocketing across customers, devices, services and geographies, yet service providers are struggling with how to effectively transform their networks and business models to cope with this evolving landscape. Our clients need our insights, research and data now more than ever. As we enter our 41st year and the economy stabilizes, we’re seizing the opportunity to invest for growth.”
As a part of this growth strategy, the company also announced it has opened an executive search for a new CEO to manage day-to-day operations. Green, who joined the company in 2005 and architected its research transformation, will transition to chairman of the board later this year. She will continue in a thought leadership role, including speaking on the impact of global connectivity in support of ANYWHERE, her popular business book published earlier this year by McGraw-Hill.
“Emily has done amazing things for Yankee Group since re-launching the company five years ago and positioning its research to focus exclusively on the impact of Anywhere connectivity,” said Tim Dibble, managing general partner at Alta Communications. “Our investment aims to seize this Anywhere business opportunity and grow Yankee Group to the next level.”
To learn more about open Yankee Group positions in Boston, London and other locations, visit http://www.yankeegroup.com/careers.do
About Yankee Group
The people of Yankee Group are the global connectivity experts—the leading source of insight and counsel trusted by builders, operators and users of connectivity solutions for 40 years. We are uniquely focused on the evolution of Anywhere connectivity, and we chart the pace of technology change and its effect on networks, consumers and enterprises. Headquartered in Boston, Yankee Group has a global presence, including operations in Europe, the Middle East, Africa, Latin America and Asia-Pacific. Visit www.yankeegroup.com