Yesterday morning I awoke to some very interesting news! My two principals, Miller Heiman Group – MHG (AchieveGlobal sales training before) and Achieve Forum – AF (AchieveGlobal Leadership training before) were acquired by Korn Ferry, the very large human resource consulting company. This merger will only begin next year and could bring some robust additions to the library of training and consulting we have at ELAvate. Remember ELAvate is an Asian Distributor for both MHG and AF solutions since 1992. Here is the press release:
KORN FERRY ENTERS INTO DEFINITIVE AGREEMENT
TO ACQUIRE THREE LEADERSHIP DEVELOPMENT COMPANIES
September 30, 2019
Combination Bolsters Learning & Development and Training Offerings
LOS ANGELES–Sep. 30, 2019– Korn Ferry (NYSE: KFY) today announced that it has entered into a definitive agreement to acquire three companies from TwentyEighty, Inc. in the leadership development area: Miller Heiman Group, AchieveForum, and Strategy Execution. The transaction, which is subject to customary closing conditions, is expected to close by November 1.
“The combination brings a world-class portfolio of learning, development, and performance improvement offerings and expertise to Korn Ferry and will bolster our firm’s substantial leadership development capabilities,” said Gary D. Burnison, CEO, Korn Ferry.
Byron Matthews of Miller Heiman Group, Christoffer Ellehuus of Strategy Execution, and Scott Bohannon of AchieveForum said: “We are delighted to find the perfect strategic home at Korn Ferry. We are enthusiastic about what the future will bring from this acquisition in terms of synergistic product and consulting solution offerings for our customers as well as career opportunities for our employees.”
Miller Heiman Group specializes in transforming sales performance and customer experience. AchieveForum offers frontline leadership development. Strategy Execution provides organizational and project management training. Combined, the three companies have trained thousands of professionals and hundreds of clients across the globe and have substantial expertise in sales performance and customer experience, frontline leadership development, and project management, which will greatly benefit future clients.
These companies will be part of a newly branded Korn Ferry Digital (formerly the Products Group), which, working closely with Consulting, will provide clients direct access to data, insights and analytics from one of the world’s most comprehensive people and organizational databases. The addition of these three companies is expected to further expand Korn Ferry’s vast intellectual property and content and leverage the firm’s digital delivery platforms.
The broader corporate training and education market is a greater than $300 billion global market opportunity, which includes retraining employees to meet the changing demands of today’s dynamic business landscape. The acquisition of the three businesses is expected to accelerate Korn Ferry’s ability to capture a share of this significant market.
Terms of the deal were not disclosed. The acquisition is expected to be accretive to adjusted earnings in the first year of Korn Ferry’s ownership.
About Korn Ferry
Korn Ferry is a global organizational consulting firm. We work with clients to design their organizational structures, roles, and responsibilities. We help them hire the right people and advise them on how to reward, develop, and motivate their workforce. And, we help professionals navigate and advance their careers.
Our relation with you an ELAvate client will remain the same. Let’s see what positive changes this acquisition brings in 2020.
Michael J Griffin
MHG and AF Distributor since 1992