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Print Edition StoriesTuesday, April 6, 2010
Yankee Group takes in $10 million, moves Green to chair
By Mass High Tech staff
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Market research firm Yankee Group has taken in $10 million from its principal owner to expand staff, and is moving CEO Emily Nagle Green into the chairman’s role as she launches a search for a new CEO.
Green, who joined the Boston-based company five years ago, confirmed published reports that she plans to hire a CEO to handle internal operations while she focuses on “evangelism and external market work.” Green, who recently authored the book “Anywhere” focusing on the business impact of global connectivity, is hiring a search firm to find a new CEO.
Private equity firm Alta Communications of Boston invested $10 million in Yankee Group with the intention of helping the company grow post-recession. Yankee Group, like many IT and networking focused market research firms, has had several rounds of personnel cutbacks in recent years.
“We felt like we really earned this acknowledment by Alta that we can be trusted for this expansion,” said Green, who noted that the firm needs more staff to develop more of the quantitative research that clients in the communications field need. The expansion is driven in part by the fact that her clients are spending money again as they come out of the recession, and by the boom in connectivity.
Yankee Group was founded by Howard Anderson, now an MIT professor, in 1970. Over the years, it has provided market research in a range of IT and networking sectors, generally with an emphasis on communications fields. However, in the past three years, Green has narrowed the firm’s focus even more, concentrating on global connectivity, a sector that she believes will continue to thrive. “People want a connected experience in everything they do,” said Green. Yankee Group provides its research services to companies that manage networks, those that make networking equipment and devices, and large end-user enterprises that use networks as a core business platform.
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