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Aberdeen Has New CEO, Financing

Aberdeen Group, a Boston IT research and consulting firm, has a hired a new CEO and secured commitments from investors for additional financing.

James L. Bedard, an IT services veteran, assumes the top job from Thomas H. Willmott, who is stepping down after 5 years. Willmott retains his board seat.

Most recently, Bedard was president and COO of GEN3 Partners, a professional services firm founded by former Cambridge Technology Partners executives. Before that, he was a partner at Benchmarking Partners, a research-based consulting firm.

"The IT market research industry is now at a crossroads," Bedard said. "Business models that took shape over the last decade can no longer be supported in today's market."

Aberdeen, which also has offices in Fort Collins, Colo., and Palo Alto, Calif., has introduced several new products and services over the last 18 months, such as a new semiconductor practice to follow new chips that power wireless data and video equipment.

The IT research industry was hard hit by the economic slowdown. Some clients delayed or canceled contract renewals to cut costs, while others went out of business.

The privately held company also said that previous backers, including TL Ventures, Commonwealth Capital Ventures and FirstLight Capital, have committed a new round of funding.

The value of the round, which will close later this year, was not disclosed.

Aberdeen's competitors include Forrester Research, Gartner Group, and Jupiter Research, which is owned by the same parent company as this Web site.