Computer industry researchers are becoming sought-after properties, and the latest to succumb is Yankee Group Research Inc, which announced yesterday that it was selling out to Primark Corp for $34m in cash, with a commitment to pay another $32m if the Boston-based Group grows 30% a year for the next three years. Founder Howard Anderson says the existing management team at Yankee Group will remain in place and he has agreed to remain with the firm for at least six years. The 83 employees will remain in Boston. Yankee Group had revenue of $14m in 1995 and is expected to report revenues in excess of $16m this year, according to Anderson. Waltham, Massachusetts-based Primark is a $600m a year global systems integrator combining highly advanced software and applications with some of the most accurate, timely and comprehensive databases in the world. The company operates in the data-intensive financial, government, weather and communications and computer information markets.
