Technology research firm Altimeter Group has been acquired by brand and marketing strategy consultancy Prophet. While financial terms of the deal were not disclosed, it’s likely that Prophet bought Altimeter to add more expertise to its ranks, in order to show customers how to better act on digital transformation within their business.
Started by Charlene Li in 2008, Altimeter Group bills itself as a research and strategy consulting firm that helps companies better understand and act on disruption. The original team consisted of Li, Deb Schultz, Ray Wang, and Jeremiah Owyang, following Li’s departure from Forrester Research. Since then, the analyst team has evolved into today’s group, which consists of Li, Brian Solis, and Susan Etlinger. All three will be moving to Prophet’s headquarters in San Francisco.
“The rapid advances in digital technology and data, along with seismic shifts in customer behavior, have challenged many companies’ ability to stay relevant,” says Prophet CEO Michael Dunn. “The addition of Altimeter’s roster of analysts…who have authored much of the influential research on these critical topics — is a key next step for our firm and our continued growth.”
Prophet bills itself as a consultancy that “fuses insights, strategy, creativity, and imagination” to help grow better brands. The acquisition of Altimeter is likely meant to aid Prophet in creating a one-stop shop for customers. Not only will better brands be built, but clients will now receive research and analysis about industry topics that pertain to their use of technology in the enterprise space.
Altimeter will continue to operate as a subsidiary of Prophet.