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Reuters Sells Yankee Group to Private Equity Consortium

Authored by Mark Hefflinger on May 14, 2004 - 1:56am.
London -- U.K.-based news and information company Reuters Group announced on Friday that it has offloaded Yankee Group, its U.S.-based research and technology advisory firm, to a consortium led by venture-capital firm Monitor Clipper Partners. Financial terms for the deal were not disclosed. Reuters acquired Yankee Group, currently the largest research and advisory firm in the world focused exclusively on communications and networking, in 2000 for about $72.5 million. Reuters said that the Monitor Clipper Partners-led consortium also included former Lycos President and CFO Ted Philip, who will become a Yankee Group director. Reuters said the Yankee Group deal was part and parcel of its strategy to refocus on its core business in the face of a marked downturn in the financial-services industry. The company also recently cut its stake in U.S.-based financial software firm TIBCO Software and offloaded its France-based credit-evaluation firm ORT SAS.
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tags: Yankee Group | Reuters | Equity Consortium |



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