Korn Ferry Acquires Leading Diversity, Inclusion and Leadership Development Firm, Global Novations, LLC
Los Angeles. September 4, 2012
LOS ANGELES, Sept.4, 2012 – Korn/Ferry International (NYSE:KFY), a premier global provider of talent management solutions, today announced that it has acquired Boston-based Global Novations, LLC, a widely respected, global provider of diversity, inclusion and leadership development solutions.
Global Novations has more than 30 years of experience and has served clients in more than 40 countries, including more than half of the Fortune 100 organizations. The acquisition increases the scale of Korn/Ferry’s Leadership and Talent Consulting business and extends the firm’s capabilities within the fast-growing market for diversity and inclusion-focused talent management solutions.
“Cultural dexterity is one of the most important leadership characteristics in global executives,” said Gary D. Burnison, CEO of Korn/Ferry International. “Today, multinational organizations put a high premium on diverse leaders who can motivate and move workforces across artificial lines on maps called borders. With the world growing flatter, and smaller, and more diverse, Global Novations understands how valuable cultural dexterity has become with clients today. The firm’s proven capability in this fast-growing market will be a great fit for Korn/Ferry and the organizations we serve.”
“Global Novations is excited to be joining Korn/Ferry,” said Oris Stuart, CEO and Managing Partner of Global Novations. “Our firm’s expertise, industry leadership and track record of success in the diversity and inclusion talent solutions market, combined with Korn/Ferry’s prominent brand, stature and reach as the top provider of global talent management solutions, will be a powerful combination. This merger will immediately extend our global footprint, support the strong demand for our capabilities and extend the range and value of our solutions to Global Novations and Korn/Ferry clients alike.”
Like Korn/Ferry, Global Novations emphasizes the importance of research-based, proprietary intellectual property as the basis of its talent management solutions. The firm has more than 150 offerings designed to develop leaders, enable high-performing cultures and deliver positive business outcomes for its clients. The Global Novations approach and offerings include e-learning, diagnostic consulting, development and education and licensing.
The acquisition is expected to be accretive to earnings in the first year of Korn/Ferry ownership. Global Novations and New MainStream Capital were advised by SunTrust Robinson Humphrey.
About Korn/Ferry International
Korn/Ferry International is a premier global provider of talent management solutions, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa. The firm delivers services and solutions that help clients cultivate greatness through the attraction, engagement, development and retention of their talent. Visit www.kornferry.com for more information on Korn/Ferry International, and www.kornferryinstitute.com for thought leadership, intellectual property, and research.
Statements in this press release that relate to future results and events (“forward-looking statements”) are based on Korn/Ferry’s current expectations. Readers are cautioned not to place undue reliance on such statements. Actual results may differ materially from those currently expected or desired because of a number of risks and uncertainties that are beyond the control of Korn/Ferry. The potential risks and uncertainties relate to the integration of Global Novation’s operations into Korn/Ferry's as well competition, exchange rates, the maintenance of client relationships and global economic conditions and developments. For a detailed description of additional risks and uncertainties that could affect Korn/Ferry's business, please refer to Korn/Ferry’s periodic filings with the Securities and Exchange Commission. 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.