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MasterCard Worldwide is parting ways with TowerGroup Inc., the Needham, Mass.-based research and advisory firm it acquired in 2004. The Corporate Executive Board Co., an Arlington, Va.-based firm providing research and consulting services, today says it is acquiring TowerGroup to expand its financial-services expertise. The company did not disclose terms of the transaction. TowerGroup, founded in 1993, has 27 analysts that focus on financial services, retail, insurance and corporate strategy. MasterCard today said in a statement: "After a strategic review of our advisory capabilities, we have decided to focus on information and analytics as opposed to subscription-based research offerings. This approach allows us to better serve our customers by focusing more of our resources on providing customized, information-based solutions designed to meet the increasing demands of today's highly competitive payments landscape."
