Business and Marketing

Prophet CEO Michael Dunn

Prophet, a global marketing consultancy that put Olive Garden in food trucks and Electrolux into new brand clothes, announced today it had purchased Altimeter Group to expand its position in digital intelligence. Terms of the deal were not disclosed.

Altimeter is perhaps best known as the home of acclaimed digital age futurist Brian Solis, author of The End of Business as Usual and expert in the quickly changing relationships between businesses and customers. The research company tracks trends for clients that include AT&T, Google, IBM, and Salesforce.com.

“Prophet understands the value of research, and we believe they will grow the impact of what we do. They'll give us global reach,” said Altimeter CEO Charlene Li.

Prophet CEO Michael Dunn said that the increasingly global nature of competition creates a constant need for new intelligence that Altimeter will help his company fill. “Business has become borderless. Whether you're a big home goods manufacturer in Europe or a Chinese tech manufacturer trying to go global, digital innovators and disruptors have changed the way you have to play to win,” Dunn said. “Big companies think they can take their foot off the gas, but then all of a sudden…”

Li (left), whose company will retain its name and branding, said the alliance will help Altimeter spread its wings and try new things. Dunn said that Altimeter provides his clients with a valuable new competitive tool.

“We told clients about the deal yesterday and the level of enthusiasm and excitement from companies such as Cigna and Hershey was clear,” Dunn said. “They recognize we are investing in innovative thinkers to help them with their next set of challenges."

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