The 451 Group was established during the dot.com bubble era and grew rapidly before shrinking somewhat after the bubble burst in 2002. After a period of consolidation it has now managed to snatch the very much more established Yankee Group, which was set up in 1970.
Yankee is a specialist in mobile communications research and consultancy, among other areas. The 451 Group, which also made mobile a key area for its activities when it was set up, has acquired Yankee from Boston-based private equity firm Alta Communications.
The 451 Group CEO Martin McCarthy said, "With Yankee Group we see an exciting opportunity to significantly extend The 451 Group’s focus on the evolution of digital infrastructure."
Since 2010 Yankee Group has been led by CEO Terry Waters. Post-acquisition Waters will continue as CEO of Yankee Group, which will continue to operate as a separate business unit.
The 451 Group employs around 200. No details of lay offs at Yankee, if any, have so far been released. Yankee now employs around 100 while New York-based 451 Group already has a small Boston office where the largest group of Yankee staff are based.
Yankee has laid off staff in recent years, bringing its total headcount down from around 200 in the face of the global recession.