Huron to Acquire Data Strategy and Technology Consulting Firm Unico Solution
Huron (NASDAQ: HURN) has announced its acquisition of Unico Solution, a data strategy and technology consulting firm. This strategic move aims to enhance Huron's capabilities in data management and governance, critical for client digital transformation and cloud adoption. Over 30 Unico employees, including managing partner Vikas Punna, will join Huron. The acquisition is expected to close in February, and while the financial terms are undisclosed, it marks a significant step in bolstering Huron's service offerings in the data management sector.
- Strengthens Huron's data management and governance capabilities.
- Enhances ability to support client digital transformation and cloud adoption.
- Addition of 30 skilled professionals from Unico, including its managing partner.
- Integration challenges may arise with the acquisition of Unico.
- Financial terms of the acquisition are undisclosed, raising uncertainty.
Global professional services firm Huron (NASDAQ: HURN) today announced it has entered into an agreement to acquire Unico Solution, a data strategy and technology consulting firm focused on helping clients use their data to speed business transformation and accelerate cloud adoption. The combination of Huron’s deep digital, technology and analytic expertise with Unico’s data management and governance capabilities strengthens the firm’s ability to deliver on client data needs to enable their business transformation.
“High quality data and strong ongoing governance are critical to building a solid foundation for a successful digital transformation,” said James H. Roth, chief executive officer of Huron. “This acquisition expands Huron’s ability to help our clients integrate, optimize and use their data to make better business decisions and adapt and respond more quickly to changing markets.”
Since its founding in 2009, Unico has collaborated with organizations to implement and execute the right vision and strategy to unlock the power of their data. Using data management and governance practices, Unico has helped financial services, healthcare, life sciences, energy and utilities, education and manufacturing customers align their technology and data strategies to drive cloud adoption and enable business transformation. More than 30 of Unico’s global workforce will join Huron, in addition to the business’s managing partner, Vikas Punna.
“We are excited to join an innovative and people-focused organization that shares our growth mindset,” said Vikas Punna, managing partner of Unico. “Huron and Unico’s shared values and commitment to helping our clients transform their businesses will enable us to deliver more value at scale for our clients.”
This acquisition also will expand Huron’s Informatica capabilities.
“The merger of two existing Informatica Partners is a terrific combination, and the data management power of the newly combined Huron-Unico team will accelerate digital transformation in a post-pandemic world,” said Richard Ganley, Informatica’s senior vice president - global partners and digital transformation. “Our joint customers need a cloud-first, cloud-native data partner in 2021 to help them move beyond just IT modernization to true transformation and the Huron-Unico acquisition is a great step forward in that direction.”
Unico will be included in Huron’s business advisory operating segment. Terms of the acquisition, which is expected to close in February, were not disclosed.
ABOUT HURON
Huron is a global consultancy that collaborates with clients to drive strategic growth, ignite innovation and navigate constant change. Through a combination of strategy, expertise and creativity, we help clients accelerate operational, digital and cultural transformation, enabling the change they need to own their future. By embracing diverse perspectives, encouraging new ideas and challenging the status quo, we create sustainable results for the organizations we serve. 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 results, 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,” “guidance,” or “outlook” or similar expressions. These forward-looking statements reflect the company's current expectations about 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: the impact of the COVID-19 pandemic on the economy, our clients and client demand for our services, and our ability to sell and provide services, including the measures taken by governmental authorities and businesses in response to the pandemic, which may cause or contribute to other risks and uncertainties that we face; 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 Huron's Annual Report on Form 10-K for the year ended December 31, 2019, and under "Item 1A. Risk Factors" in Huron's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, 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. The company disclaims 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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