MasterCard in Deal to Sell TowerGroup

MasterCard Worldwide is parting ways with TowerGroup Inc., the Needham, Mass., research firm it bought in 2004.

Corporate Executive Board Co. said Wednesday that it would buy TowerGroup; it did not disclose the price. TowerGroup, founded in 1993, has 27 analysts who focus on financial services, retail, insurance and corporate strategy. "After a strategic review of our advisory capabilities, we have decided to focus on information and analytics as opposed to subscription-based research offerings," MasterCard said.

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