Quayle Munro, leading international corporate finance advisor in media, information and technology, is pleased to announce that it has advised the shareholders of Pyramid Research on the sale of the business to TechWeb’s Light Reading Communications Network, the leading integrated publishing, events and research company serving the global communications marketplace, a division of United Business Media, a global provider of news distribution and specialist information services with a market capitalisation of more than $2.5 billion.
Pyramid will be integrated with Heavy Reading, creating the communications industry's most comprehensive provider of research. Heavy Reading, the independent market research arm of the Light Reading Communications Network, offers quantitative analysis of telecom technology to service providers, vendors and investors.
Pyramid Research, which is headquartered in Cambridge, Massachusetts and has offices in Hong Kong, London, Miami and Seattle, collects, aggregates and analyses industry data to provide clients in the global telecommunications marketplace with quantitative insights into current and projected market conditions. It has established a reputation as an industry leader based on the breadth of its coverage, its time-tested database and forecasting methodology, and its multilingual analyst team.
Wayne Cooper, Chairman of Pyramid Research and Managing Director of Greenhaven Partners commented:
“Pyramid Research has developed a reputation for the quality of its data, information and insights across the international telecommunications industry. By combining with the broad resources and market access of the TechWeb properties, Pyramid Research will continue to grow its respected coverage of the expanding global telecommunications revolution.”
Tony Uphoff, Chief Executive Officer at TechWeb, commented:
“Although we reach the broad universe of professionals who build, deploy, manage and finance next-generation telecom and enterprise networks with online, events and research, this blockbuster combination of Pyramid and Heavy Reading more than doubles the size of our research portfolio and positions TechWeb for increased global growth.”
Pyramid Research was represented by Levine and Seltzer as financial advisors and Finn, Dixon and Herling LLP as legal advisors.