Huron Consulting Group Announces Intent to Acquire ADI Strategies
27 April 2016 - 6:05AM
Business Wire
Huron Consulting Group Inc. (NASDAQ: HURN), a leading provider
of business consulting services, today announced its intent to
acquire the U.S. assets of ADI Strategies, Inc., a leading
enterprise performance management, risk management, and business
intelligence firm focused on implementing the Oracle enterprise
application suite. Huron is also in the process of acquiring the
international assets of ADI Strategies, Inc. in Dubai and India. An
agreement for these assets is expected to be signed in the second
quarter of 2016.
The transactions will create one of the largest and fastest
growing Oracle application and analytics practices, delivering the
latest advisory and technology consulting services to a broader
client base, while enhancing the combined organization’s scale and
capabilities.
“Our businesses are rapidly growing and highly complementary,
and combining them will better position Huron to support the
financial, operational, and technology-related needs of our
expanding global client base with a stronger, more robust team and
broader solutions,” said Jay Laabs, managing director and EPM&A
practice leader at Huron Consulting Group. “As our clients continue
their migration towards the cloud for their mission-critical
functions, we will leverage ADI Strategies’ deep Oracle expertise
to offer a comprehensive set of solutions supported by an expanded
remote delivery capability.”
ADI Strategies is an Oracle Platinum Partner that helps
companies work more effectively by designing, building and
implementing analytic solutions to give clients a greater
understanding of their information assets. ADI Strategies is based
in San Francisco. More than 100 employees will join Huron, with
Mario Desiderio, Don Davis, Murat Demirkol, and Mike Willhelm
joining as managing directors.
“I know that I speak for the entire team at ADI Strategies when
I say that we are extremely excited to join Huron,” said Mario
Desiderio, president, ADI Strategies. “Huron and ADI Strategies
have a similar set of guiding values and a strong commitment to
client service. The combination of our firms will create an
organization that is uniquely positioned to capitalize on the
market opportunities presented by the rapidly evolving enterprise
applications, analytics and technology landscape.”
For reporting purposes, ADI Strategies will be included in the
Huron Business Advisory segment. Terms of the U.S. asset
acquisition, which is expected to close in May 2016, were not
disclosed.
About Huron Consulting Group
Huron is a global professional services firm focused on
assisting clients with their most complex business issues by
delivering high-value, quality solutions to support their long-term
strategic objectives. Huron specializes in serving clients in the
healthcare, higher education, life sciences, and commercial sectors
as these organizations face significant transformational change and
regulatory or economic pressures in dynamic market environments.
With its deep industry and technical expertise, Huron provides
advisory, consulting, technology, and analytic solutions to deliver
sustainable and measurable results. Learn more at
www.huronconsultinggroup.com.
Statements in this press release that are not historical in
nature, including those concerning the Company’s current
expectations about its future requirements and needs, are
“forward-looking” statements as defined in Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are identified by words such as “may,” “should,”
“expects,” “provides,” “anticipates,” “assumes,” “can,” “will,”
“meets,” “could,” “likely,” “intends,” “might,” “predicts,”
“seeks,” “would,” “believes,” “estimates,” “plans,” “continues,” or
“outlook” or similar expressions. These forward-looking statements
reflect our current expectations about our future requirements and
needs, results, levels of activity, performance, or achievements.
Some of the factors that could cause actual results to differ
materially from the forward-looking statements contained herein
include, without limitation: failure to achieve expected
utilization rates, billing rates and the number of
revenue-generating professionals; inability to expand or adjust our
service offerings in response to market demands; our dependence on
renewal of client-based services; dependence on new business and
retention of current clients and qualified personnel; failure to
maintain third-party provider relationships and strategic
alliances; inability to license technology to and from third
parties; the impairment of goodwill; various factors related to
income and other taxes; difficulties in successfully integrating
the businesses we acquire and achieving expected benefits from such
acquisitions; risks relating to privacy, information security, and
related laws and standards; and a general downturn in market
conditions. These forward-looking statements involve known and
unknown risks, uncertainties and other factors, including, among
others, those described under “Item 1A. Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2015 that may
cause actual results, levels of activity, performance or
achievements to be materially different from any anticipated
results, levels of activity, performance, or achievements expressed
or implied by these forward-looking statements. We disclaim any
obligation to update or revise any forward-looking statements as a
result of new information or future events, or for any other
reason.
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Huron Consulting Group Inc.Media Contact:Jenna
Nichols312-880-5693jnichols@huronconsultinggroup.comorInvestor
Contact:C. Mark HusseyorJohn D.
Kelly312-583-8722investor@huronconsultinggroup.com
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