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Korn Ferry (NYSE: KFY) announced its acquisition of Infinity Consulting Solutions (ICS), a leading provider of interim professional solutions. Based in New York, ICS specializes in senior-level IT staffing and has been recognized with the Best of Staffing Diamond award for ten consecutive years. This acquisition is expected to enhance Korn Ferry's offerings, especially given the increasing demand for skilled labor in IT. While the terms of the deal were undisclosed, it is anticipated to be immediately accretive to Korn Ferry’s adjusted earnings.
Positive
Acquisition of ICS expands Korn Ferry's portfolio in interim professional solutions.
ICS has a strong reputation with a decade of Best of Staffing Diamond awards.
The deal is expected to be immediately accretive to Korn Ferry’s adjusted earnings.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Korn Ferry (NYSE: KFY) today announced that it has acquired Infinity Consulting Solutions (ICS).
Headquartered in New York, with nine offices throughout the United States, ICS offers substantial interim professional solutions expertise which will further enhance Korn Ferry’s industry-leading portfolio.
ICS is a widely regarded provider of senior-level IT interim professional solutions with additional expertise in the areas of compliance and legal, accounting and finance, and human resources.
The firm brings to Korn Ferry a vast network of senior IT professionals, a rigorous data-driven recruitment process, and deep relationships with a diverse mix of clients across multiple industries. ICS has also been recognized with the Best of Staffing Diamond award for 10 consecutive years.
Korn Ferry’s world-class brand, vast intellectual property and five decades of organizational consulting expertise are a firm foundation for growing scale in today’s highly segmented executive and professional interim solutions market.
“Infinity Consulting Solutions will be a great fit, with interim professional placement offerings and expertise that are highly relevant for the new world of work,” said Gary D. Burnison, CEO, Korn Ferry. “Today, Boomers are retiring and career nomads are looking for change – early and often. Our clients have entered a new reality where shortages of skilled labor are projected to persist, particularly in high-demand areas such as IT. Korn Ferry’s acquisition of ICS echoes our commitment to scale our solutions and further increase our focus at the intersection of talent and strategy – wherever and however the needs of organizations evolve.”
“Now, with Korn Ferry, we will have a world-class global network of colleagues, vast IP and client connections at every turn. Our track record of success and deep interim professional solutions expertise, combined with Korn Ferry’s expansive organizational consulting credentials, will give us even greater opportunities to deliver client and colleague impact,” said Doug Klares, CEO, Infinity Consulting Solutions. “We’re excited to be joining Korn Ferry and look forward to what the future holds.”
Terms of the deal were not disclosed. The acquisition is expected to be immediately accretive to Korn Ferry’s adjusted earnings.
About Korn Ferry Korn Ferry is a global organizational consulting firm. We work with our clients to design optimal organization structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward and motivate their workforce while developing professionals as they navigate and advance their careers.
Korn Ferry has acquired Infinity Consulting Solutions (ICS), a provider of interim professional solutions.
What are the expected benefits of Korn Ferry's acquisition of ICS?
The acquisition is expected to enhance Korn Ferry's service offerings and is projected to be immediately accretive to its adjusted earnings.
How does Infinity Consulting Solutions contribute to Korn Ferry?
ICS provides expertise in senior-level IT staffing and has a strong network and reputation, complementing Korn Ferry's organizational consulting capabilities.
What year did Korn Ferry acquire Infinity Consulting Solutions?
Korn Ferry announced the acquisition of Infinity Consulting Solutions on August 1, 2022.
What is the stock symbol for Korn Ferry?
Korn Ferry is listed on the NYSE under the symbol KFY.
