Sep. 24, 2015, 7:40 AM
- Korn/Fery (NYSE:KFY) agrees to acquire human resources consultancy Hay Group for ~$452M in cash and stock.
- The acquisition would split KFY's focus evenly between recruiting and human capital management, offering clients help with organizational design, compensation and leadership development, in addition to hiring.
- KFY says it is targeting annual cost synergies of at least $20M within a year of the deal’s closing, and that layoffs may be ahead for support staff in functions such as finance and IT.
Korn/Ferry International provides talent management solutions. It operates through three segments: Executive Recruitment, Leadership and Talent Consulting, and Futurestep. The Executive Recruitment segment focuses on recruiting executive-level positions. The Leadership and Talent Consulting... More
Industry: Staffing & Outsourcing Services
Country: United States
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