Korn Ferry Completes Acquisition of Lucas Group

Rhea-AI Summary

Korn Ferry (NYSE: KFY) has successfully completed its acquisition of Lucas Group, significantly enhancing its professional search and contracting capabilities. Although the financial terms are undisclosed, the deal is projected to boost Korn Ferry's adjusted earnings immediately. This acquisition is expected to strengthen Korn Ferry's position in the market and improve its search portfolio with Lucas Group's expertise.

Positive

• Acquisition of Lucas Group enhances Korn Ferry's search capabilities.
• Transaction expected to be immediately accretive to adjusted earnings.

Negative

• Risks of disruption to current operations due to integration.
• Potential challenges in realizing anticipated benefits from the acquisition.

LOS ANGELES--(BUSINESS WIRE)-- Korn Ferry (NYSE: KFY) today announced that it has completed its previously disclosed acquisition of Lucas Group.

Lucas Group brings to Korn Ferry substantial professional search and contracting expertise that is expected to enhance the firm’s industry-leading search portfolio. 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.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “will,” “may,” and “expect,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include, but are not limited to, the expected benefits of the transaction. Such statements are based on Korn Ferry’s current expectations and are subject to numerous risks and uncertainties, many of which are outside of the control of Korn Ferry. Readers are cautioned not to place undue reliance on such statements.

A number of factors could cause actual results or outcomes to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to: the risk that the transaction disrupts current plans and operations of Korn Ferry and/or of Lucas Group; the ability to successfully integrate the operations and employees of Lucas Group into Korn Ferry; the ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition, the ability of Korn Ferry to grow and manage growth profitably, maintain relationships with customers and suppliers, and retain key employees; costs related to the transaction; and other risks and uncertainties indicated from time to time in filings with the SEC by Korn Ferry.

Korn Ferry disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005092/en/

MEDIA CONTACT

Dan Gugler

310 552 1834

dan.gugler@kornferry.com

INVESTOR CONTACT

Gregg Kvochak

310 552 1834

gregg.kvochak@kornferry.com

Source: Korn Ferry

FAQ

What is the purpose of Korn Ferry's acquisition of Lucas Group?

The acquisition aims to enhance Korn Ferry's professional search and contracting capabilities, strengthening its market position.

When was Korn Ferry's acquisition of Lucas Group completed?

Korn Ferry completed its acquisition of Lucas Group recently, as announced in the press release.

How will the acquisition of Lucas Group impact Korn Ferry's earnings?

The acquisition is expected to be immediately accretive to Korn Ferry's adjusted earnings.

What are the risks associated with the acquisition of Lucas Group?

Risks include potential disruption to current operations and challenges in successfully integrating Lucas Group's staff and operations.