Huron to Acquire Growth Strategy Firm Innosight
The firms’ combination of strategy and execution will help organizations imagine the future and transform for
tomorrow
Global professional services firm Huron (NASDAQ: HURN) today announced that it has entered into an agreement to acquire
Innosight Holdings LLC, a growth strategy firm focused on helping companies navigate disruptive change, enable innovation and
manage strategic transformation. When combined, Huron and Innosight will use their strategic, operational and technology
capabilities to help clients across multiple industries develop pioneering solutions to address disruption and achieve sustained
growth.
“No industry is immune to disruption. Faced with increased competition, often from unconventional sources, organizations are
forced to rethink their historical strategies to stay ahead of market forces and changing customer preferences,” said James H.
Roth, chief executive officer and president of Huron. “Together, we will provide a full spectrum of services - from strategy to
execution - that will help organizations think, plan and act differently to confront disruption and accelerate growth.”
Built by leading strategic thinkers and co-founded by renowned strategy consultant Mark Johnson and Harvard Business School
professor and author Clayton Christensen, the world’s foremost authority on disruptive innovation, Innosight is a trusted partner
to Fortune 500 companies and other leaders looking to strengthen today’s business while creating tomorrow’s growth engines. The
firm’s innovation and transformational strategies have proven successful in industries undergoing disruptive change such as
aerospace, automotive, energy, financial services, healthcare, insurance, life sciences and retail.
“Companies are under mounting pressure to satisfy a range of competing interests,” said Scott Anthony, managing partner at
Innosight, who will become a Huron managing director. “But shifting stakeholder expectations, combined with disruptive change,
create significant opportunities for today’s leaders. Huron and Innosight’s combination of capabilities in strategy, operations,
technology and analytics will enable us to offer transformative change to address these opportunities.”
Formed in 2000, Innosight recognized that traditional approaches to strategy and growth were not enough to help companies
accelerate transformational change. This became the basis for its “future back” approach to strategy. Organizations that apply
Innosight’s approach build leadership alignment on a vision for the future and create portfolios of new innovations and growth
businesses that address changing customer needs and outpace their competitors.
Applying the same methodology alongside Huron’s deep industry expertise in healthcare, education and life sciences, the combined
firms will help leaders in these critical industries successfully navigate changing market dynamics, regulations and consumer
expectations to grow for the long-term.
“Huron and Innosight are a natural fit,” Christensen said. “They are both passionate about creating repeatable and sustained
growth for their clients. Together they are uniquely positioned to build resilience in today’s business while at the same time
creating future growth engines.”
Innosight has more than 90 employees and a global footprint with locations in the United States, Singapore and Switzerland.
TRANSACTION OVERVIEW
Under the terms of the purchase agreement, Huron will purchase Innosight Holdings, LLC for $100 million upon
closing, consisting of $90 million in cash and $10 million in Huron common stock, plus contingent consideration
of up to $35 million if specific financial performance targets are met over a four-year period. The cash component of the
transaction will be financed with cash on hand and borrowing under the company’s senior secured credit facility. The shares of
Huron common stock will not be registered under the Securities Act of 1933 and will be subject to restrictions on transfer under
applicable securities law.
For reporting purposes, Innosight will be included in the Business Advisory segment. The transaction is expected to close
in March 2017, and is subject to customary closing conditions.
CONFERENCE CALL AND WEBCAST
The company will host a conference call and webcast Friday, February 17, 2017, at 7:30 a.m. Eastern Time (6:30 a.m. Central
Time). The conference call is being webcast by NASDAQ OMX and can be accessed at Huron’s website at http://ir.huronconsultinggroup.com. To participate by telephone, the dial-in number
is (844) 413-0948 with passcode 68344625. A replay will be available approximately two hours after the conclusion of the webcast
and for 90 days thereafter.
A supplemental presentation that will be discussed during the webcast will be made available on the Investor Relations page of
the company's website at http://ir.huronconsultinggroup.com prior to the webcast, and will be available for 90 days thereafter.
ABOUT HURON
Huron is a global professional services firm committed to achieving sustainable results in partnership with its clients. The
company brings depth of expertise in strategy, technology, operations, advisory services and analytics to drive lasting and
measurable results in the healthcare, higher education, life sciences and commercial sectors. Through focus, passion and
collaboration, Huron provides guidance to support organizations as they contend with the change transforming their industries and
businesses. Learn more at www.huronconsultinggroup.com.
ABOUT INNOSIGHT
Innosight is a growth strategy consulting firm focused on helping organizations design and create the future, instead of being
disrupted by it. As the leading authority on disruptive innovation and strategic transformation, Innosight works with clients
across a range of industries to identify new growth opportunities, build new ventures and capabilities, and accelerate
organizational change. With offices in the United States, Switzerland and Singapore, Innosight serves leading organizations around
the world. Learn more at www.innosight.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, 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,” “continues,” or “outlook” or similar
expressions. These forward-looking statements reflect our current expectations about our future requirements and needs, results,
levels of activity, performance, or achievements. Some of the factors that could cause actual results to differ materially from the
forward-looking statements contained herein include, without limitation: failure to achieve expected utilization rates, billing
rates and the number of revenue-generating professionals; inability to expand or adjust our service offerings in response to market
demands; our dependence on renewal of client-based services; dependence on new business and retention of current clients and
qualified personnel; failure to maintain third-party provider relationships and strategic alliances; inability to license
technology to and from third parties; the impairment of goodwill; various factors related to income and other taxes; difficulties
in successfully integrating the businesses we acquire and achieving expected benefits from such acquisitions; failure to complete
the pending acquisition of Innosight Holdings, LLC or any material delay in the timing of such acquisition; risks relating to
privacy, information security, and related laws and standards; and a general downturn in market conditions. These forward-looking
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, 2015, 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.
Huron
MEDIA CONTACT
Sarah McHugh
312-880-2624
smchugh@huronconsultinggroup.com
or
INVESTOR CONTACT
John D. Kelly
312-583-8722
investor@huronconsultinggroup.com
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