Frost & Sullivan was started by Dan L. Sullivan and Lore A. Frost[2][3] in New York City in 1961.[4] In the 1970s it started a corporate training division, began sponsoring conferences and industry meetings, and opened an office in London.[4]
In 1982, it was publicly traded, and had annual revenues of $9.1 million. By 1987 revenue had grown to around $17.5 million, with $290,000 in net earnings. Theodore Cross acquired 53% of the stock in the mid-1980s.[4] In January 1988 the company was taken private by merger with a subsidiary of FAS Acquisition Co., a company formed by Cross and Warburg Pincus Capital.[5] It was sold to David Frigstad in 1993.[citation needed]
A sales office in New York was damaged in the September 11 attacks.[6] During the ensuing recession the company laid off 10% of its 700 staff.[4]
Frost & Sullivan issues industry awards based on research using a proprietary methodology, which is sometimes based on a single article produced by the receiver of the award. Organizations that receive a Frost & Sullivan award must pay a fee to communicate the outcome to the public.[7][8][9]
References
^"Our Offices". Frost & Sullivan. Retrieved 14 September 2016.
^John Honovich (June 20, 2019), Briefcam Buys Frost Award, I can confirm that, at least in my own case, the research consisted of public domain material obtained from a single article written by ourselves.
^Anette Schwenzer (August 7, 2006), Promega to refuse Frost and Sullivan Award, archived from the original on January 10, 2014, retrieved August 24, 2020, We clearly regard the fact that the publication of obtaining a prize is associated with costs for the prize-winner as ethically very questionable
