| Type | Private |
|---|---|
| Industry | Market research |
| Founded | 1961 |
| Founder(s) | David L. Sullivan |
| Headquarters | San Antonio, Texas, United States |
| Key people | David Frigstad (Chairman)[1] Khrisna Srinavasan (President)[2] |
| Services | Market research, analysis, growth strategy consulting and corporate training |
| Website | frost.com |
Frost & Sullivan, Inc. is an American firm which provides customer-dependent market research & analysis, growth strategy consulting and corporate training services. Its headquarters are located in San Antonio, Texas, with offices in over 20 countries across the world.
The company was founded by David L. Sullivan in New York in 1961.[3]
The company was 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. The company also expanded outside the US in the 1970s by opening an office in London.[3]
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.[3] The company merged with a subsidiary of FAS Acquisition Co. in January 1988.[4]
The company expanded to Asia in the 1990s by opening 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 2002, it further expanded its alliance with Dialog.[5] In 1998, the firm moved its headquarters from New York to San Antonio, Texas.
In 2001, it acquired Technical Insights. The same year, Frost & Sullivan lost its New York sales office in the September 11 attacks.[6] The following recession forced the company to layoff 10% of its 700-strong staff, before it made a recovery.[3]