Korn Ferry Completes Acquisition of Salo

Rhea-AI Summary

Korn Ferry (NYSE: KFY) has successfully completed its acquisition of Salo, LLC, enhancing its portfolio in finance, accounting, and HR talent solutions. Salo specializes in providing interim talent services, particularly in the healthcare sector. The acquisition is anticipated to boost Korn Ferry's adjusted earnings immediately, although specific financial terms were not disclosed. This strategic move aims to strengthen Korn Ferry's organizational consulting capabilities, potentially increasing market share and driving future revenue growth.

Positive

• Acquisition of Salo enhances Korn Ferry's finance and HR talent solutions.
• Expected to be immediately accretive to adjusted earnings.
• Strengthens Korn Ferry's position in the healthcare sector.

Negative

• Terms of the deal were not disclosed, leaving uncertainty around financial impact.
• Integration of Salo's operations may face challenges.

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

Salo is a leading provider of finance, accounting and HR interim talent, with a strong focus on serving clients in healthcare, among other industries. The company’s substantial interim professional solutions and contract staffing expertise will enhance Korn Ferry’s industry-leading organizational consulting 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,” “expect,” “anticipate,” “believe,” “estimate,” “plan,” “outlook,” and “project” 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, statements relating to the timing of the consummation of the transaction, the expected benefits of the transaction, including future financial and operating results, market share, expected synergies, and the Company’s plans, objectives, expectations, and intentions. 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 occurrence of any event, change, or other circumstances that could give rise to the termination of the acquisition agreement; the inability to timely complete or complete at all the transaction because of the failure to satisfy conditions to closing set forth in the acquisition agreement; the risk that the transaction disrupts current plans and operations of Korn Ferry and/or of Salo as a result of the announcement, pendency or consummation of the transaction; the ability to successfully integrate the operations and employees of Salo 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; the outcome of any legal proceedings that may be instituted against Korn Ferry or Salo or their respective affiliates following announcement of the transaction; changes in applicable laws or regulations; the possibility that Korn Ferry or Salo or their respective subsidiaries and affiliates may be adversely affected by other economic, business, and/or competitive factors; 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/20230201005079/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 recent acquisition by Korn Ferry?

Korn Ferry acquired Salo, LLC, a provider of finance, accounting, and HR interim talent.

How will the acquisition of Salo affect Korn Ferry's earnings?

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

What industries does Salo primarily serve?

Salo focuses on providing interim talent solutions, particularly in the healthcare industry.

What are the strategic benefits of the Korn Ferry and Salo acquisition?

The acquisition will enhance Korn Ferry's organizational consulting capabilities and expand its market share.

What risks are associated with the Korn Ferry and Salo acquisition?

Potential risks include integration challenges and unspecified financial terms of the deal.