Huron Consulting Group Inc. (NASDAQ:HURN), a leading provider of
business consulting services, today announced that it has entered into
an agreement to acquire the assets of Threshold Consulting, Inc. Threshold
is a provider of cloud-based Software as a Service (SaaS) applications,
data warehousing and business intelligence (BI) solutions, as well as
customer relationship management (CRM) consulting capabilities.
"Threshold Consulting is a respected firm focused on delivering
high-value capabilities,” said James
H. Roth, chief executive officer and president, Huron
Consulting Group. “This acquisition will expand Huron’s offerings to
the C-suite, which helps executives and institutions utilize data as a
strategic asset to enhance analytics and drive improved business
performance.”
Threshold’s business complements Huron’s existing enterprise performance
management (EPM), BI and analytics offerings to the office of the CFO
and adds deeper CIO-centric solutions including data warehousing, data
modeling and information governance capabilities, while also providing
an entry into Salesforce.com CRM implementation services.
Founded in 1995, Threshold combines business and technology expertise to
help companies drive performance, utilizing business intelligence and
customer relationship management, data architecture and integration
services supported by strategic partnerships with Salesforce, Oracle,
and others. Threshold is a Salesforce.com registered Silver Cloud
Alliance Partner.
“We are excited to join Huron,” said Bob Patterson, chairman and CEO of
Threshold Consulting. “Our teams have worked together on a number of
projects, and we know that Huron’s thinking and commitment to client
service are very similar to ours.”
Jay
Laabs, managing director, enterprise
performance management and analytics solutions, Huron Consulting
Group, said, “Threshold’s consulting practice is respected for its data
management, business intelligence and cloud-based platform capabilities,
including Salesforce.com. The Threshold team also has hands-on
experience building mobile applications integrating Salesforce.com,
Oracle and other technologies. Threshold’s nearly two decades of data
integration and analytics experience is a key differentiator, and they
will be a seamless and powerful complement to our existing enterprise
solutions, along with Huron’s other solutions.”
Huron’s enterprise performance management and analytics solutions
deliver valuable process improvement, analytics, and financial and
operational solutions. With expertise in full-service enterprise
performance management, business
intelligence and information management professional services, Huron
helps clients across industries become more successful in executing
their financial goals and strategies. Huron is a Platinum level member
of Oracle PartnerNetwork (OPN).
The acquisition, which is subject to certain customary closing
conditions, is expected to be completed in early October, and will
result in more than 10 Threshold professionals joining Huron. Terms of
the transaction were not disclosed. For reporting purposes, Threshold
will be included in the Company’s Huron Business Advisory segment.
About Huron Consulting Group
Huron Consulting Group helps clients in diverse industries improve
performance, transform the enterprise, reduce costs, leverage
technology, process and review large amounts of complex data, address
regulatory changes, recover from distress and stimulate growth. Our
professionals employ their expertise in finance, operations, strategy
and technology to provide our clients with specialized analyses and
customized advice and solutions that are tailored to address each
client's particular challenges and opportunities to deliver sustainable
and measurable results. The Company provides consulting services to a
wide variety of both financially sound and distressed organizations,
including healthcare organizations, leading academic institutions,
Fortune 500 companies, governmental entities and law firms. Huron has
worked with more than 425 health systems, hospitals, and academic
medical centers; more than 400 corporate general counsel; and more than
350 universities and research institutions. Learn more at www.huronconsultinggroup.com.
Statements in this press release that are not historical in nature,
including those concerning the Company’s current expectations about its
future requirements and needs, are “forward-looking” statements as
defined in Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”) and the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are identified by words
such as “may,” “should,” “expects,” “provides,” “anticipates,”
“assumes,” “can,” “will,” “meets,” “could,” “likely,” “intends,”
“might,” “predicts,” “seeks,” “would,” “believes,” “estimates,” “plans”
or “continues.” These forward-looking statements reflect our current
expectations about our future requirements and needs, results, levels of
activity, performance, or achievements, including, without limitation,
current expectations with respect to, among other factors, utilization
rates, billing rates, and the number of revenue-generating
professionals; that we are able to expand our service offerings; that we
successfully integrate the businesses we acquire; and that existing
market conditions continue to trend upward. These statements involve
known and unknown risks, uncertainties and other factors, including,
among others, those described under “Item 1A. Risk Factors” in our
Annual Report on Form 10-K for the year ended December 31, 2013, that
may cause actual results, levels of activity, performance or
achievements to be materially different from any anticipated results,
levels of activity, performance or achievements expressed or implied by
these forward-looking statements. We disclaim any obligation to update
or revise any forward-looking statements as a result of new information
or future events, or for any other reason.
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