Type Private Website www.frost.com | Number of employees 1800 Founded 1961 | |
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Industry Market research, Consulting Key people David Frigstad (Chairman)
Krishna Srinivasan (President) Services Management consulting (growth strategy) and market research Headquarters San Antonio, Texas, United States Founders Lore A. Frost, Dan L. Sullivan Subsidiaries Frost & Sullivan (singapore) Pte Ltd | ||
Frost & Sullivan is a business consulting firm involved in market research and analysis, growth strategy consulting, and corporate training across multiple industries. It is currently headquartered in Mountain View, California, and has offices in over 40 countries.
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History
Frost & Sullivan was founded by Dan L. Sullivan and Lore A. Frost in New York City in 1961. The company initially focused on research related to new technologies, distribution channels and business trends. In 1972, it started a corporate training division. Also in the 1970s, the company started sponsoring conferences and industry meets, and also expanded outside the US in the 1970s by opening an office in London.
In 1982, Frost & Sullivan was publicly traded, and had annual revenues of $9.1 million. By 1987, the revenues had grown to around $17.5 million, with $290,000 in net earnings. Theodore Cross acquired 53% of the company's stock in the mid-1980s. In January 1988, the company was merged with a subsidiary of FAS Acquisition Co., a company formed by Theodore Cross and Warburg Pincus Capital, making it a private firm once again. In 1993, the company was acquired by David Frigstad.
The company expanded into Asia in the 1990s and opened offices in China, Japan, India and Singapore. In 1997, it entered into a joint venture with M.A.I.D. (later acquired by Dialog) for electronic distribution of its material.
In 2001, it acquired Technical Insights. The same year, Frost & Sullivan lost its New York sales office in the September 11 attacks. The following recession forced the company to lay off 10% of its 700-strong staff, before it made a recovery. In 2002, it further expanded its alliance with Dialog.
Services and awards
Frost & Sullivan's services fall into the following three broad categories: market research, including industry analysis; business consulting; and events, including seminars, workshops, and conferences. The company issues industry awards based on research using their proprietary methodology.