James Bedard Named New CEO of Aberdeen Group; Investor Group Led By TL Ventures Commits New Round of Funding

BOSTON--()--Aug. 19, 2003--Aberdeen Group, a leading IT market analysis and consulting firm, announced that James L. Bedard, an IT services industry veteran, has been named the company's new president and CEO. Thomas H. Willmott, who has been president and CEO since 1998, will step down from the post and remain on the company's board of directors.

Aberdeen also announced that its investor group, including TL Ventures, Commonwealth Capital Ventures and FirstLight Capital, has committed a new round of funding to the company to be closed later this year.

Mr. Bedard brings to Aberdeen an impressive track record of corporate management, aggressive sales execution and strategic business development over the course of a 15-year career. He previously served as president and chief operating officer of GEN3 Partners, Inc., a provider of "private label" professional services and demand creation programs for software companies. Under his leadership, GEN3 grew revenue from $0 to $18 million annual run rate in 18 months, defying the significant revenue deterioration experienced by competitors. Prior to joining GEN3, Mr. Bedard served from 1997-2001 as partner and chief client officer for Benchmarking Partners, Inc., a research based strategic consulting firm.

"Over the last 15 years, Aberdeen has emerged as a major force in the IT market research industry," said Mr. Bedard. "Its strong brand, deep market research capability and the experience of its analysts are recognized and respected by legions of companies across the broad spectrum of information technologies.

"The IT market research industry is now at a crossroads," he continued. "Business models that took shape over the last decade can no longer be supported in today's market. Aberdeen is well along the path of delivering what today's market wants, so I am pleased to be joining as president and CEO at this exciting time. We will not only continue redefining the company, we also hope to become a leader in reshaping the entire industry."

"James Bedard's industry experience and executive skill set will be a great asset to Aberdeen as the company develops new ways of delivering value to clients in a new market environment," said Mr. Willmott.

"Aberdeen has become well-known for providing critical thought leadership on myriad issues of importance to businesses," said Peter Kastner, an Aberdeen founder who serves as executive vice president, chief research officer and as a member of the company's board of directors. "As we move forward, and as the industry continues to change and evolve, Aberdeen will continue to be a strong voice of information and insight, providing significant value to existing and future clients."

Over the course of the last 18 months, Aberdeen has been introducing a variety of new products and services designed to meet the needs of existing and new markets. Aberdeen's web site is one of the industry leaders in terms of content and visitor traffic.

About Aberdeen Group

Founded in 1988, Aberdeen Group, an IT market research leader, continues to distinguish itself in a rapidly changing industry. Headquartered in Boston, Massachusetts, Aberdeen has research and consulting divisions in Palo Alto, California, and Fort Collins, Colorado. Aberdeen is accessible on the Web at www.aberdeen.com.

Contacts

Linden Alschuler & Kaplan, Inc. Public Relations
Hannah Arnold, 212-575-4545
harnold@lakpr.com

Contacts

Linden Alschuler & Kaplan, Inc. Public Relations
Hannah Arnold, 212-575-4545
harnold@lakpr.com